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SpaceX wants to reach a capitalization of 1.75 trillion dollars. Analysts are clear that it is worth less than half

June 4, 2026 by usatoday24

SpaceX’s is the first of the record-breaking IPOs that are expected this year: it will take place on June 12, 2026 under the symbol SPCX. This operation promises to be the most important public offering of shares in history, and the company has already indicated that its objective is to obtain funds worth $75 billion to achieve an astronomical valuation of 1.75 billion euros. But how SpaceX is valued is one thing, and how analysts value it is quite another. Overrated. The financial analysis firm Morningstar has carried out an analysis of SpaceX’s financial accounts and have reached a striking conclusion: “We believe the company has been significantly overvalued and investors will have the opportunity to buy the shares at more attractive levels after the IPO.” Or what is the same: they advise not participating in that initial IPO, and waiting because they anticipate that the stock will fall in the first days on Wall Street. It’s only worth half. In these conclusions, Morningstar establishes that the valuation discounting SpaceX’s cash flow is $780 billion. That represents 48% than the valuation of the private market, which is 1.5 trillion dollars, and 44.5% less than the valuation attributed to the company itself, which amounts to 1.75 trillion dollars. Is it really more promising than Nvidia? Dan Coatsworh is one of the main analysts at the firm AJ Bell, and he commented on CNBC how that theoretical internal valuation of $1.75 trillion would mean that the value of SpaceX (P/E, Price to Earnings ratio) is 67 times its sales, two times more than, for example, happens at Nvidiathe most valuable company on the planet today. Beware of xAI. One of SpaceX’s theoretical strengths is its artificial intelligence division, xAIbut analysts explain that in reality its theoretical advantage is “undetermined”, and in fact they pose it as “a material threat of value destruction” for the parent company, SpaceX. Morningstar believes that the AI division is worth $170 billion, and that what really matters is something else. The Starlink engine. SpaceX’s real argument for going public and its real strength is not the reusable Falcon 9 rockets, but the profitability of Starlink. The company’s satellite constellation has achieved sustained cash flow in recent months, and its global customer base is growing at an enviable pace. It is undoubtedly SpaceX’s great recurring revenue generation machine. Morningstar values it at $611 billion. The double class trick. SpaceX plans to sell shares at a fixed price of $135 per share, but they will only list 3% of the total shares. In addition, Elon Musk will continue to maintain tight control of the vote with 85% of the total through a dual-class share system. Class A shares, those that go public, allow the right to one vote per share. Class B shares go to the founder and the first key investors. They are not sold on the open market, and each one usually gives 10, 20 or more votes. Institutional dependency. The value of the company, however, is supported by the contracts it has with the US government. Specifically with NASA and with the Department of Defensewhich depend entirely on SpaceX systems for their critical missions. That not only guarantees long-term income, but is a compelling argument to attract more conservative investment funds. Either you believe Elon, or you don’t. We are facing an operation that will test Elon Musk’s real power over the markets. Although SpaceX is an extraordinary company, it is overvalued due to its founder’s habit of selling hype. The tactic of coming out as an indivisible package (Starlink + xAI + Image | Xataka with Magnific In Xataka | Elon Musk knows that TSMC is overwhelmed: Terafab is his idea to completely change the global chip industry

the effect of the crisis on the components that we had not yet taken into account, according to analysts

April 1, 2026 by usatoday24

The price rise announced by Sony on March 27 (which places the PS5 at 649.99 euros and the PS5 Pro at 899.99 euros from April 2) has opened a debate that goes much further than that of the increase itself. Because industry analysts have started to do the math and believe that even more terrifying figures are coming than what PS5 is going to cost: what PS6 is going to cost. Arms escalation. The PS5 cost 499.99 euros when it hit stores in November 2020. On April 2, 2026 it will cost 649.99 euros. More than 150 euros difference in five years, and it is exactly the same hardware. And it is not the first time that Sony has revised the prices of its current generation upwards: the company already did it in August 2022 and did it again in April 2025then focusing on the Digital Edition of its console. The pattern. What is striking is not only the rise itself, but the pattern: the consoles of this generation They have been getting more expensive for years instead of becoming cheaper, just the opposite of what had happened historically, and which obeys more to common sense in that we are talking about progressively more outdated hardware. However, it is a widespread movement: Microsoft did the same in October 2025 with their Xbox Series. What the analysts say. Three voices from the sector They agree that what happened with PS5 is not an isolated case but a sign of what is to come. Mat Piscatella, senior analyst at Circana, admits that the magnitude of the PS5 rise has exceeded all industry expectations. Serkan Toto, CEO of the consulting firm Kantan Games, goes further: a PS6 model at $999 “is not impossible.” And Joost van Dreunen, a video game professor at the NYU Stern School of Business, believes the market is headed toward a world in which a $1,000 console will be the norm, and gaming will become a luxury expense. The reason: the component crisis. As we know, the cost of hardware has skyrocketed and the price of DRAM and NAND memory has risen 80 to 90 percent since early 2026. Demand for artificial intelligence data centers, which require huge quantities of memory chips, has strained the global supply chain, and consumer electronics makers are absorbing the blow. Added to this are tariff tensions driven by the US administration and logistical disruptions in parts of Asia. Better at once. Toto believes that Sony appears to have decided to apply a single substantial increase now, rather than chaining together several smaller increases over time. This maneuver has an additional advantage: if the market stabilizes later, Sony would have room to lower prices or launch promotions. Furthermore, with Xbox weakened and nintendo In another completely different segment of the market, the Japanese company can set prices with a margin of maneuver that it did not have in other generations. It’s not all pessimism. Not all forecasts point to four digits. The KeplerL2 leak expert calculate that the current cost of manufacturing a PS6 would be around $760. With that figure, a launch price close to $699 would be theoretically viable if Sony accepted that part of the hardware would be paid for out of pocket, as it has historically done with its consoles. The lack of direct competition, however, may push Sony not to contain the price as much as in other generations. In any case, the crisis of components and, above all, a ‘GTA VI‘which will catapult PS5 sales makes it unlikely that we will see the launch before 2028. In Xataka | Playstation 6: all the information we know (or think we know) so far

A secret annex in its missile plant that baffles analysts

July 24, 2025 by usatoday24

Among the mountains southwest of Pyongyang, a new building has become the last great mystery of North Korea. It appears in a satellite image captured on June 9 by Planet Labs that indicates an annex as striking as disconcerting. There are no windows, only a long and high structure that seems designed for something that is preferred to keep hidden. Missiles? Anti -aircraft systems? The first hypotheses are already on the table, but the answers, as always, are much more difficult to obtain. A complex with decades of history. The Missile Factory Chamjin is not any installation. American spy satellite files already mentioned it in the 60s as a nerve point of the North Korean missile program. It is officially known as Thaesong Plantand hides in a narrow valley, surrounded by peaks and protected by control stalls and anti -aircraft nests. There, between tunnels excavated in the mountain and industrial pavilions, some of the rockets that give muscle to the military force of the country are assembled. The great remodeling of 2023 and 2024. For decades, the western part of the Missile Factory Chamjin remained almost intact, with aged industrial pavilions and deteriorated ceilings. Everything changed in recent years, when the largest of these buildings received a complete renewal, including a new roof that caught the attention of analysts. That movement was just the beginning. In July 2024, the works intensified: Three industrial ships and several minor buildings were demolished to give way to larger structures. It was at that time that the renewed pavilion incorporated the annex that today concentrates all eyes, a piece that breaks the known silhouette of the factory and suggests a new stage in the complex. What hides behind the annex? The new annex does not go unnoticed. With its 65 meters long, 18 wide and about 15 high – measures calculated by researcher John Ford, James Martin Center for Nonproliferion Studies and cited by Defense News-, the structure seems designed for tests with long and heavy objects. The specialist warns that the design does not fit at all with the needs of the largest rockets of North Korean arsenal. One of the most solid theories points to the anti -aircraft systems Pongae 5 or Pongae 6, which Pyongyang has promoted in recent months without still showing in public. The annex, according to this reading, could be destined to test the vertical deployment of the launch pipes of these systems, or even assemble the vehicles that transport them. For now, everything is interpretations. North Korea rarely shows what happens in its military factories and satellite images only offer fragmented clues. But, judging by the architecture and location of the new building, analysts agree that their function is linked, in one way or another, to the heart of the missile program. The shadows of military cooperation. The expansion of the Missile Factory Chamjin does not happen in a vacuum. Since Moscow and Pyongyang reinforced their military tiesNorth Korean factories have experienced accelerated modernization. Analysts like Colin Zwirko, from NK NewsThey point out that the rhythm of construction in key facilities is related to the supply of weapons to Russia for war in Ukraine. Missiles, artillery projectiles and industrial components have left these plants to Moscow, and the money received could be financing improvements such as the new annex. The propaganda narrative and the role of Kim Ju-Ae. In North Korea, visitors to missile factories are not just technical inspections: they are carefully designed messages. In early 2023, Kim Jong-un appeared at the Thaesong plant Accompanied by his daughter Kim Ju-Ae, an image that toured state news. Since then, Kim Ju-Ae has become a recurring face of military propaganda. According to Newsis analystsseeks to project the arms program as a shield for the safety of new generations. Images | Kremlin | Planet Labs (Via Defense News) In Xataka | Ukraine has opened Russia’s last drone and does not leave his astonishment: it is the first time that China does something like that

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