Why Morningstar Thinks SpaceX Is Worth So Much Less Than Elon Musk Does -- WSJ

Dow Jones

Jun 09

By Heather Gillers

Shares in SpaceX start trading publicly Friday, and the company said last week that it plans to sell them at $135 apiece. Morningstar analysts think they are worth $63.

In a research note Monday, they explained why:

-- It isn't clear yet whether SpaceX will be able to build a rocket that can be reused rapidly enough to enable multiple launches a week.

-- SpaceX's plan to put artificial-intelligence data centers in space could tank-or simply fail to offer any advantage over data centers on Earth.

-- The most likely scenario, Morningstar analysts believe, is that the rockets will perform as hoped and AI data centers will work but be subject to capacity constraints.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

June 08, 2026 16:29 ET (20:29 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers HK | Online Trading in stocks, bonds & ETFS","description":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","keywords":"tiger trading,tiger security,tiger broker hk,tigers co ltd,tiger trade hk,tiger brokers hk,stock broker,securities broker,online brokerage,hong kong broker,hk broker,online stock trading,online trading platform,stock trading platforms,trading application,stock trading,stock trading hong kong,buying stocks in hong kong,tiger brokers","social":{"ogDescription":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.gotigerhk.com/news/2642543121"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"HKG","license":"TBHK","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2642543121\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2642543121?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-06-09 04:29","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2642543121","market":"other","top_or_hot":-1,"title":"Why Morningstar Thinks SpaceX Is Worth So Much Less Than Elon Musk Does -- WSJ","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n       By Heather Gillers \n</p>\n<p>\n     Shares in SpaceX start trading publicly Friday, and the company said last week that it plans to sell them at $135 apiece. Morningstar analysts think they are worth $63. \n</p>\n<p>\n     In a research note Monday, they explained why: \n</p>\n<p>\n     -- It isn't clear yet whether SpaceX will be able to build a rocket that can be reused rapidly enough to enable multiple launches a week. \n</p>\n<p>\n     -- SpaceX's plan to put artificial-intelligence data centers in space could tank-or simply fail to offer any advantage over data centers on Earth. \n</p>\n<p>\n     -- The most likely scenario, Morningstar analysts believe, is that the rockets will perform as hoped and AI data centers will work but be subject to capacity constraints. \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 08, 2026 16:29 ET (20:29 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Morningstar Thinks SpaceX Is Worth So Much Less Than Elon Musk Does -- WSJ</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Morningstar Thinks SpaceX Is Worth So Much Less Than Elon Musk Does -- WSJ\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-06-09 04:29</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n       By Heather Gillers \n</p>\n<p>\n     Shares in SpaceX start trading publicly Friday, and the company said last week that it plans to sell them at $135 apiece. Morningstar analysts think they are worth $63. \n</p>\n<p>\n     In a research note Monday, they explained why: \n</p>\n<p>\n     -- It isn't clear yet whether SpaceX will be able to build a rocket that can be reused rapidly enough to enable multiple launches a week. \n</p>\n<p>\n     -- SpaceX's plan to put artificial-intelligence data centers in space could tank-or simply fail to offer any advantage over data centers on Earth. \n</p>\n<p>\n     -- The most likely scenario, Morningstar analysts believe, is that the rockets will perform as hoped and AI data centers will work but be subject to capacity constraints. \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 08, 2026 16:29 ET (20:29 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4112","symbol_name":"金融交易所和数据","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2642543121","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2642543121","pubTimestamp":1780950540,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares in SpaceX start trading publicly Friday, and the company said last week that it plans to sell them at $135 apiece. Morningstar analysts think they are worth $63.-- It isn't clear yet whether SpaceX will be able to build a rocket that can be reused rapidly enough to enable multiple launches a week.-- SpaceX's plan to put artificial-intelligence data centers in space could tank-or simply fail to offer any advantage over data centers on Earth.-- The most likely scenario, Morningstar analysts believe, is that the rockets will perform as hoped and AI data centers will work but be subject to capacity constraints.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL .","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4112":"金融交易所和数据","LU2065731478.USD":"ALLSPRING (LUX) WORLDWIDE FUND - SMALL CAP INNOVA \"I\" (USD) ACC","MORN":"晨星信息","BK4598":"佩洛西持仓","LU1878469433.USD":"THREADNEEDLE (LUX) - AMERICAN SMALLER COMPANIES \"A\" (USD) ACC"},"translate_title":"为什么晨星公司认为SpaceX的价值远低于埃隆·马斯克——《华尔街日报》","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MORN":1.9},"content_text":"By Heather Gillers \n\n\n     Shares in SpaceX start trading publicly Friday, and the company said last week that it plans to sell them at $135 apiece. Morningstar analysts think they are worth $63. \n\n\n     In a research note Monday, they explained why: \n\n\n     -- It isn't clear yet whether SpaceX will be able to build a rocket that can be reused rapidly enough to enable multiple launches a week. \n\n\n     -- SpaceX's plan to put artificial-intelligence data centers in space could tank-or simply fail to offer any advantage over data centers on Earth. \n\n\n     -- The most likely scenario, Morningstar analysts believe, is that the rockets will perform as hoped and AI data centers will work but be subject to capacity constraints. \n\n\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n\n\n  (END) Dow Jones Newswires\n\n\n  June 08, 2026 16:29 ET (20:29 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}