In less than six weeks, Amazon has recovered approximately $560 billion in market capitalization from SpaceX. On June 16, both companies were valued at $2.65 trillion each; today, Amazon is worth $3.06 trillion while SpaceX has plummeted to $1.44 trillion, a 32% drop over one month and a 50% decline from its post-IPO peak. Amazon reported net sales of $200 billion in the second quarter, operating income up 43%, and adjusted earnings of $1.97 per share, beating Wall Street expectations, which sent its stock surging 15% the next day and an additional 5% on Monday. The e-commerce giant also benefited from $53 billion in non-operating gains from its stake in Anthropic, and analysts raised their price targets to as high as $365. SpaceX, which had priced at $135 during its historic IPO in June and briefly reached $2.95 trillion, was trading around $105 this morning, an all-time low, and will report its first quarterly results on Tuesday before a share unlock of 911 million shares on Thursday.
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