SpaceX vs AST SpaceMobile: Which Space Stock Should Investors Actually Buy Right Now?

TLDR

• SpaceX went public in June 2026 at a $1.77 trillion valuation, quickly crossing $2 trillion in market cap
• SpaceX posted $18.67 billion in revenue in 2025 but still recorded a $4.94 billion net loss
• AST SpaceMobile now has nine satellites in orbit after SpaceX launched three more BlueBird satellites on June 17
• AST reported Q1 2026 revenue of just $14.7 million but holds $3.5 billion in cash and guides for $150–$200 million in 2026 revenue
• Wall Street analysts rate AST SpaceMobile a Reduce consensus, with an average price target of $81.33

SpaceX went public in June 2026 at a valuation of $1.77 trillion. Shortly after trading began, its market cap moved above $2 trillion, making it one of the most valuable companies in the world.

Space Exploration Technologies Corp., SPCX

The company generated $18.67 billion in revenue in 2025, up from $14.02 billion the year before. It still posted a $4.94 billion net loss due to heavy spending on rockets and infrastructure.

SpaceX is no longer just a rocket company. It combines launch services, reusable rockets, and Starlink’s satellite internet business. Reuters has described it as a “space, satellite and AI provider.”

Starlink gives SpaceX a recurring revenue stream that sets it apart from other space companies. The broadband business is already operating at scale, and future growth is tied to Starship development, government contracts, and expanding Starlink coverage.

The main question for investors is valuation. SpaceX is priced for enormous future growth while still losing money today.

AST SpaceMobile’s Growing Satellite Network

AST SpaceMobile is taking a different approach. The company is building a satellite network that connects directly to ordinary smartphones with no special hardware required.

AST SpaceMobile, Inc., ASTS

On June 17, SpaceX launched three AST BlueBird satellites, bringing AST’s total in orbit to nine. The company is targeting 45 satellites in orbit by the end of 2026.

AST reported first-quarter 2026 revenue of $14.7 million, with an EPS of -$0.66. The company holds $3.5 billion in cash and is maintaining full-year 2026 revenue guidance of $150 million to $200 million.

The financial story is still early. Investors are betting on future commercialization, not current scale.

Even after the latest launch, questions remain. Barron’s noted investors still need to wait for confirmation that the newly launched satellites have fully deployed and are operating correctly.

What Separates the Two Companies

The gap between these two companies is proof of concept. SpaceX has already built a large, operating commercial space business. AST is still working to prove its direct-to-device model can work globally.

SpaceX offers more certainty. It has the revenue, the infrastructure, and the track record. AST offers more upside if its network reaches commercial scale, but the execution risk is much higher.

Wall Street reflects that divide. Eleven analysts cover AST SpaceMobile with a Reduce consensus, including one buy, seven holds, and three sells. The average price target stands at $81.33.

SpaceX is too newly public for a broad analyst consensus, but its immediate post-IPO valuation shows the level of confidence investors already have in its leadership position.

Both companies are competing in the same broad sector, but they are at completely different stages of development.

For investors, the choice comes down to proven scale versus speculative upside.

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