Despite its $2 trillion market cap, it is safe to say that SpaceX (NASDAQ: SPCX) is a moonshot bet for investors.
The company only generated $19 billion in revenue last year and reported a net loss of $4.9 billion, making its current valuation based entirely on hopes for the success of future bets, like its plans to put data centers in orbit, to churn out AI processors at its Terafab plant, or position its Starlink satellite internet service to replace traditional mobile carriers
However, there are plenty of technological hurdles to overcome before any of those ambitious plans might come to fruition, and there is no guarantee that any of these bets will pay off. With that in mind, let’s look at three other speculative growth stocks that may be better moonshot bets for your portfolio. IonQ: The quantum computing accuracy leader If you want to place a moonshot bet on future technology, IonQ (NYSE: IONQ) is one of the more interesting investments you can make.
The company is currently at the forefront of quantum computing. One of the biggest challenges faced by every company attempting to develop a commercially viable quantum computer is that the qubits they are built around are incredibly sensitive to any external influence, which makes the machines error-prone. IonQ’s trapped-ion qubit systems have achieved a 99.99% two-qubit gate fidelity, making it the accuracy leader.