3 Better Trillion-Dollar Stocks to Buy Instead of SpaceX

Space Exploration Technologies (NASDAQ: SPCX) -- or SpaceX -- has rocketed higher since its debut, closing in on a $3 trillion market capitalization. But let's be real: The stock is largely being pushed higher by its low float. The reality is that this company generated under $19 billion in revenue last year, and grew its sales by only 15% in the first quarter.

Elon Musk has predicted $1 trillion in revenue by 2030, but he has a long history of overly optimistic forecasts, and the chances of the company coming anywhere close to that number are slim. There are major technical hurdles that need to be overcome to have data centers in space, and no one can be certain this is a good business (it certainly would be heavy on capital expenditures), let alone one that is right around the corner.

Against that backdrop, let's look at three trillion-dollar stocks that look like better buys.

Image source: Getty Images.

Nvidia

While SpaceX's valuation is based on moonshot bets, Nvidia (NASDAQ: NVDA) is the dominant player in artificial intelligence (AI) infrastructure. It trades at a forward price-to-earnings ratio (P/E) of just 16 and grew its revenue by an 85% in the first quarter to $81.6 billion.

Its adjusted quarterly profits of $45.5 billion were nearly 2.5 times SpaceX's 2025 revenue. These are two companies that should not be in the same orbit.

Nvidia maintains a wide moat in AI model training with its graphics processing units (GPUs) due largely to its CUDA software platform, which is where most foundational AI has been written. However, it also has a world-class networking portfolio, and its deal with Groq positions it well for the AI inference market. It also has a big opportunity in agentic AI with its central processing units.

Overall, Nvidia is a top AI stock and one deserving of its current market cap. It should have plenty of upside, given its valuation and growth prospects.

Apple

Apple (NASDAQ: AAPL) may not be as exciting and innovative as it has been in the past during the days of Steve Jobs, but one thing is certain: It has one of the most proven business models. That should be worth much more than an unproven business model in outer space.

The company's strength lies in its closed-wall ecosystem. Apple has managed to become a luxury electronics brand whose products work seamlessly with one another, allowing it to capture the high end of the smartphone market.

These devices have pretty predictable replacement cycles, helping create a steady stream of hardware revenue. However, the beauty of the business is that once consumers buy an iPhone, they are typically locked into its system, as it becomes difficult to switch with each photo, app purchase, and subscription bought.

This, in turn, feeds into its high-margin service business. It includes things like getting a percentage of the revenue from apps sold through its App Store, selling cloud storage, revenue sharing with Alphabet's Google Search, and getting a small cut every time someone uses Apple Pay. This makes it one of the best-compounding businesses out there and is why the company is so valuable.

Amazon

While Musk has suggested SpaceX could hit $1 trillion in revenue in 2030, Amazon (NASDAQ: AMZN) is actually projected to reach this figure in 2028 and $1.3 trillion in revenue by 2030. Given that it generated $717 billion in revenue last year versus under $19 billion for SpaceX, its projections are much more realistic. Analysts, for their part, expect SpaceX to reach only $226 billion in revenue by 2030, and even that could be ambitious.

Amazon, meanwhile, is the market leader in e-commerce and cloud computing. While Musk is pursuing the robotics industry through Tesla, Amazon is the world's leading manufacturer and operator of robots, with more than 1 million in its fulfillment centers. This is helping drive down costs and create efficiencies, leading to strong operating leverage in its e-commerce business.

And while SpaceX is trying to become a leading AI company, Amazon already is one. Its Amazon Web Services is seeing accelerating revenue growth, and its custom chip business gives it a cost edge. The company also has its own space ambitions, looking to challenge SpaceX's Starlink satellite internet service with its own offerings, while the acquisition of Globalstar gave it important spectrum and direct-to-device capabilities.

Amazon is a great company with two proven and growing businesses and one that should be worth much more than SpaceX's moonshot bets, in my view.

Geoffrey Seiler has positions in Alphabet and Amazon. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Nvidia, and Tesla. The Motley Fool has a disclosure policy.