SpaceX is already worth more than Amazon. So why are analysts sounding the alarm?

Two days after going public , SpaceX is already bigger than both Amazon and Microsoft. With Tuesday’s early market gains adding to Monday’s advance, Elon Musk’s rocket-and- AI company boasted a market cap of $2.95 trillion as of 10:05 a.m. That put it ahead of Amazon’s $2.66 trillion and briefly above Microsoft’s $2.93 trillion.