SpaceX (SPCX) Stock Hits Highest Close Since June

SpaceX (SPCX) closed at $171.09 on Nasdaq, its best finish since June, as a Morgan Stanley note, a first Starship orbit and TSMC chip talks lifted sentiment.

Lead

SpaceX listed on Nasdaq on June 12 at $135 a share, raising about $86 billion at a valuation of roughly $1.77 trillion. The shares closed their first session at $161 and touched a record $211 in the following week.

What Moved SpaceX Shares on Monday?

The Morgan Stanley note drove Monday's advance. The firm described the shares as cheap ahead of the next Starship test flight and left its $300 target unchanged. The note cited future AI product releases, Starship progress and additional neocloud contracts as supports for the valuation. It also said a successful catch of the Starship upper stage in an upcoming test would be the biggest positive catalyst since the IPO.

The reiteration carried weight because the stock had been trading well below its post-listing peak of $211. Monday's close of $171.09 remains about 19% under that record but sits above the first-day close of $161.

Did Starship Reaching Orbit Support the Rally?

Starship's first orbital flight, on Sept. 28, supplied the operational backdrop for the move. The vehicle reached orbit and deployed 26 Starlink satellites, a milestone for the program that underpins SpaceX's launch cost advantage and its plans for NASA's Moon missions.

The flight was not clean. Engine anomalies cut short a mission planned for about 10 hours, and Starship deorbited after roughly three hours and returned in a water landing. The engine issues raised the stakes for the next test and for NASA's lunar timeline. Last week the company also launched a crewed NASA mission and sent Google (GOOG) AI chips into orbit, adding to the news flow.

What Is the TSMC Chip Talk About?

Musk confirmed on Oct. 3 that early discussions are under way with Taiwan Semiconductor Manufacturing Co. (TSM) about joining Terafab, his semiconductor production initiative. He described the talks as "just discussions, but something may come of it."

Under the structure being discussed, TSMC would build and operate a facility serving Tesla (TSLA), SpaceX and xAI exclusively. Intel (INTC) is the only other partner named so far. No agreement, financial terms or timeline has been disclosed. For SpaceX, whose AI division Musk has said will be renamed SpaceXSI, secure access to advanced chips is central to the compute-heavy strategy that Morgan Stanley's note emphasized.

How to Buy SpaceX Stock?

Strategic Context

The three catalysts address different parts of the SpaceX valuation. Starship determines launch economics and Moon-program credibility. Terafab addresses the supply of chips for AI workloads. The Morgan Stanley note ties both to the revenue case for AI products and neocloud contracts. The target itself is unchanged, so Monday's rally reflects investors responding to a reiterated view alongside fresh operational progress rather than to new forecasts.

Outlook

SPCX enters the week at its highest close in nearly four months, with the next Starship test flight the main scheduled catalyst. Resolution of the engine anomalies and any attempt to catch the upper stage will shape sentiment, as will whether the TSMC discussions become a formal agreement. The record of $211 remains roughly 23% above Monday's close.