SpaceX (SPCX) shares closed at $158.96 on October 2 after surging 7.35% on record volume, driven by Starship's first orbital flight and a wave of bullish analyst coverage highlighting AI compute leasing potential. The stock trades at roughly 65 times annualized second-quarter sales of $7.8 billion, with consensus 12-month targets near $219–$235 reflecting expectations for AI revenue to reach $14 billion-plus in 2026. Q3 results, due around early November, will test whether growth sustains amid heavy capex and post-IPO lockup expirations, while near-term launch cadence and any regulatory or contract updates could influence sentiment through month-end. Market-implied odds will hinge on whether these catalysts offset valuation concerns at current levels.