Can SpaceX (SPCX) Stock Really Win the Mobile Market? Bernstein Has Doubts
TLDR
- SPCX rose 2.22% Friday to $136.97, still down ~15% since its June IPO
- Bernstein kept an Outperform rating and $248 price target but flagged major limits for satellite-only mobile
- Satellite-to-phone distance creates real problems with speed, battery life, and indoor coverage
- Bernstein sees an MVNO partnership as SpaceX’s most realistic path into mobile
- Wall Street has a Moderate Buy on SPCX with an average price target of $228.59, implying ~67% upside
SpaceX stock closed at $136.97 on Friday, up 2.22%, after Bernstein released a detailed report on the company’s push into the U.S. mobile market. The stock is still roughly 15% below its June IPO price.
Space Exploration Technologies Corp., SPCX
Bernstein analyst Douglas Harned kept an Outperform rating on SPCX with a $248 price target. But the report took a cautious view of SpaceX’s plan to launch Starlink Mobile by late 2027, targeting a U.S. mobility market worth more than $300 billion a year.
The core issue is physics. A cell tower sits a few kilometers from your phone. A Starlink satellite sits hundreds of kilometers away. That distance weakens the signal and causes problems with upload speeds, indoor coverage, and battery drain.
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