+2.9%
last session
Amazon's stock is being driven by a mix of positive developments—potential new revenue from selling custom AI chips...
Sourcereuters.com - Jun 19
Space Stocks
SpaceInnovationTechnology
Launch providers, satellite operators, Earth observation platforms, and aerospace companies building the space economy. The universe is dominated by Space Cloud & Software (89%) and Aerospace Crossover (10%), outperforming SPY by 18.4 percentage points YTD.
YTD Return
+27.7%
+18.4 pts vs SPY
14 of 31 beat SPY
1-Month Return
-2.1%
-2.7 pts vs SPY
Universe Size
31 Stocks
Curated theme basket
Market Cap
$11.1T
Total capitalization
Theme Performance
Space Stocks Performance vs SPY and QQQ
Track Space Stocks without checking every day
Weekly updates on performance, valuation changes, and key movers.
Theme Composition
Space Stocks Breakdown
Composition last reviewed
As of Jun 1, 2026
Categories reflect each company's primary theme role. Some companies may have exposure to multiple segments.
Theme Overview
Space Stocks Overview
A summary of how the theme breaks down across business segments and where concentration risk lives.
Selected Stocks
31
in theme
Total Market Cap
$11.1T
combined
Highly Concentrated
The top 2 segments (Space Cloud & Software & Aerospace Crossover & Launch Infrastructure & Other segments) represent 98.9% of this theme by market cap.
Top Space Stocks Stocks
Top Space Stocks Stocks by Segment, Performance, and Valuation
GOOG
Alphabet Inc.
Price$367.46
Mkt Cap-
YTD+16.5%
Rev G17.5%
MSFT
Microsoft Corporation
Price$379.40
Mkt Cap-
YTD-19.8%
Rev G17.9%
AMZN
Amazon.com, Inc.
Price$244.39
Mkt Cap-
YTD+7.9%
Rev G14.2%
RTX
RTX Corporation
Price$185.60
Mkt Cap-
YTD-0.9%
Rev G10.6%
APH
Amphenol Corporation
Price$163.96
Mkt Cap-
YTD+17.4%
Rev G54.4%
BA
The Boeing Company
Price$222.72
Mkt Cap-
YTD-2.2%
Rev G32.7%
LMT
Lockheed Martin Corporation
Price$510.95
Mkt Cap-
YTD+2.8%
Rev G4.6%
GD
General Dynamics Corporation
Price$350.01
Mkt Cap-
YTD+1.9%
Rev G9.3%
NOC
Northrop Grumman Corporation
Price$521.50
Mkt Cap-
YTD-11%
Rev G5%
RKLB
Rocket Lab USA, Inc.
Price$107.24
Mkt Cap-
YTD+41.1%
Rev G45.8%
| # | Chart (YTD) | |||||||
|---|---|---|---|---|---|---|---|---|
| 1 | GOOG Alphabet Inc. | $367.46 | $4.45T | +16.5% | -6.5% | 34.0 | 17.5% | |
| 2 | MSFT Microsoft Corporation | $379.40 | $2.82T | -19.8% | -10.4% | 27.8 | 17.9% | |
| 3 | AMZN Amazon.com, Inc. | $244.39 | $2.63T | +7.9% | -7.7% | 34.1 | 14.2% | |
| 4 | RTX RTX Corporation | $185.60 | $249.94B | -0.9% | +5.5% | 37.4 | 10.6% | |
| 5 | APH Amphenol Corporation | $163.96 | $201.58B | +17.4% | +34.7% | 49.1 | 54.4% | |
| 6 | BA The Boeing Company | $222.72 | $175.57B | -2.2% | +1% | 89.8 | 32.7% | |
| 7 | LMT Lockheed Martin Corporation | $510.95 | $117.75B | +2.8% | -3.3% | 23.8 | 4.6% | |
| 8 | GD General Dynamics Corporation | $350.01 | $94.65B | +1.9% | +2% | 22.6 | 9.3% | |
| 9 | NOC Northrop Grumman Corporation | $521.50 | $74.07B | -11% | -5.2% | 17.9 | 5% | |
| 10 | RKLB Rocket Lab USA, Inc. | $107.24 | $62.07B | +41.1% | -18.3% | -289.8 | 45.8% |
Showing 10 of 31 stocks
Daily Intelligence
Yesterday in Space Stocks
Key headlines and stock-level catalysts from the last trading session.
Markets closed - showing last session.
The next recap publishes after Jun 22, 2026 market close.
Session Brief
Jun 19, 2026Space sector sees mixed momentum. SpaceX’s IPO fuels demand for launch and satellite services, boosting Rocket Lab, Momentus, and AST SpaceMobile. NASA and commercial contracts drive Intuitive Machines’ lunar comms and Planet Labs’ data services, though both stocks lag on valuation.
Key Drivers
Stock-Level Catalysts
Sentiment reflects catalyst narrative, not price direction - a stock can close lower while the fundamental driver is bullish.
-5.58%
last session
AST SpaceMobile is gaining traction as SpaceX’s IPO unlocks the broader space economy, boosting demand for satellit...
Sourcefxempire.com - Jun 18
+1.48%
last session
Alphabet’s $84.75 B stock issuance to fund AI, coupled with a new plan to curb rogue AI agents and institutional ba...
Sourcefool.com - Jun 18
-4.01%
last session
LMT fell 4% amid a broader market rally, but analysts note its strong dividend growth and potential undervaluation;...
Sourcezacks.com - Jun 18
+0.13%
last session
Microsoft's AI strategy, highlighted by a $1B+ partnership with ByteDance and SpaceX's $22.7T enterprise AI market...
Sourcefinbold.com - Jun 19
Updated after market close
Jun 19, 2026
Valuation Pulse
Are Space Stocks cheap or expensive right now?
DCF valuations and Wall Street ratings across the theme.
Data as of Jun 21, 2026 (EOD)
31 stocks in theme - 24 with full coverage
DCF Valuation
(Intrinsic Value)24
of 31
covered
Undervalued
7(29%)
Fair Value
5(21%)
Overvalued
12(50%)
Top DCF Upside (Undervalued Only)
View all
Wall Street Consensus
(Price Targets)30
of 31
covered
Buy / Strong Buy
26(87%)
Hold
4(13%)
Sell / Strong Sell
0(0%)
Coverage Snapshot
Consensus is based on 30 stocks with analyst price targets. DCF analysis is based on 24 stocks with intrinsic value estimates.
Valuation Distribution
(29 covered stocks)Theme Valuation Score
2.6
Cheap
Scale: 1 (Cheap) to 5 (Expensive)
1
Bargain
9 stocks (31%)
>= +30%
2
Cheap
4 stocks (14%)
+10% to +30%
3
Fair
8 stocks (28%)
-10% to +10%
4
Expensive
7 stocks (24%)
-25% to -10%
5
Very Expensive
1 stocks (3%)
<= -25%
Valuation score blends Wall Street target upside at 65% weight and DCF upside at 35% weight when both are available; single-source covered stocks use the available signal. Higher score means more expensive.
Earnings Calendar
Upcoming Earnings in Space Theme
Companies reporting in the next 30 days. Earnings dates and estimates can change as reports approach.
No earnings scheduled
No earnings scheduled in the next 30 days.
Earnings calendar updates as reporting dates are confirmed.
Research & Methodology
How to evaluate Space Stocks
Methodology, investment thesis, and key risks for this theme.
Show DetailsHide Details
Research & Methodology
How to evaluate Space Stocks
Methodology, investment thesis, and key risks for this theme.
How we evaluate these stocks
Our methodology
We separate launch, satellites, defense space, communications, earth observation, and diversified aerospace exposure. The page weighs revenue traction, cash burn, contract quality, and launch or deployment risk.
- Space exposure must be material to the investment thesis
- Pure plays are separated from defense and aerospace crossovers
- Revenue growth and funded contracts matter
- Cash runway is critical for speculative names
- Valuation is checked against technical and execution risk
Investment thesis
Why this theme exists
Space investing spans launch, satellites, connectivity, defense, and earth-observation markets. The opportunity is large, but public equities range from stable contractors to speculative pure plays.
- Satellite connectivity can open new communications markets
- Defense space budgets support durable demand
- Reusable launch and manufacturing can lower access costs
- Earth observation creates data and analytics revenue
- Diversified aerospace names offer lower-risk exposure
Key risks
What could go wrong
Space companies can face binary technical events, long timelines, heavy capital needs, and intense competition. Pure plays need especially careful position sizing.
- Launch failures can reset timelines and confidence
- Cash burn can force dilution before scale
- Competition can limit pricing and market share
- Satellite deployment can take longer than planned
- Speculative valuations can fall sharply in risk-off markets
FAQ
Frequently asked questions
Common questions investors have about the Space Stocks theme.
01What are space stocks?
Companies whose revenue or thesis is driven by the space economy — launch services, satellite operations, Earth observation, and space-based communications. The category spans pure-plays like Rocket Lab (RKLB) and Planet Labs (PL) to crossovers like RTX, Lockheed Martin, and Boeing whose space divisions are meaningful business segments.
02What are the best space stocks to buy?
Depends on risk tolerance. Rocket Lab (RKLB) is the most credible pure-play — second most frequent orbital launcher globally with Neutron in development. AST SpaceMobile (ASTS) is the highest-upside speculative bet on direct-to-cell satellites. Planet Labs (PL) leads commercial Earth observation. For lower risk, RTX, LMT, and NOC have large satellite and military space programs inside diversified defense businesses.
03Is Rocket Lab a good investment?
Rocket Lab is the strongest pure-play space thesis in public markets — the only listed company with a proven orbital launch vehicle (Electron), growing spacecraft manufacturing, and medium-lift Neutron in development. Risks: execution on Neutron, SpaceX competition, and operating losses during growth investment. Compare its revenue growth and P/S valuation against the basket.
04Is AST SpaceMobile stock worth buying?
ASTS is highest-risk/highest-reward in the basket — building satellites to connect directly to unmodified smartphones from orbit. Upside is enormous if it works (AT&T, Verizon partnerships suggest real demand). Risk is equally extreme: unproven technology, deep cash burn, and significant dilution risk to fund the constellation build. Size positions accordingly.
05How do I invest in the space industry — ETFs or individual stocks?
ARKX holds many tangential companies that dilute the space thesis. UFO is more concentrated on satellite and defense names. Individual stocks let you target specific segments: RKLB for launch, ASTS for satellite connectivity, PL for Earth observation, or defense primes for lower-risk crossover exposure. Compare ETF holdings on this page to see if they match your thesis.
Related Themes
Continue from Space Stocks into adjacent themes
Curated theme paths that share catalysts, supply chains, or investor workflows with this page.
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