SpaceX (SPCX) shares traded near $167–$171 during the week of October 5, 2026, after a 7.6% surge to $171.09 on October 5 driven by Morgan Stanley’s reaffirmation of its $300 price target and emphasis on undervalued enterprise AI exposure relative to growth-adjusted multiples. The move reflected ongoing rotation toward AI infrastructure narratives, including Starlink’s subscriber expansion beyond 12 million and new compute contracts, while the company’s roughly $2.2–2.3 trillion market capitalization priced in continued revenue acceleration from its Q2 run rate of $7.81 billion. Subsequent softening followed reports of potential $40 billion Nvidia GPU financing, highlighting capex intensity and unprofitability risks amid average analyst targets near $219. Trader consensus in the $165–$170 bucket aligns with these levels and the absence of immediate resolution catalysts before the next earnings window.