Meta’s Muse Drives Its Stock Surge: Will Apple, Tesla, or SpaceX Become the Next Leader?

TradingKey - After Meta Platforms (META)'s Muse AI agent received a positive market response, investors began searching for the next tech company that could drive a valuation rerating with a new product.

Gene Munster, managing partner at Deepwater Asset Management, believes that Apple (AAPL), Tesla (TSLA), and SpaceX (SPCX) all have the opportunity to replicate a similar path, and shares of all three companies rose slightly in Tuesday pre-market trading.

Munster believes that before a product is officially launched, the market can often only make judgments based on the targets and expectations provided by the company. However, once the product truly enters consumers' lives, the market will gain more real-world feedback. If users are willing to continue using it, investors' assessment of the product's commercial value may also change accordingly.

Why Is Meta's Muse Attracting Attention?

The biggest difference between Muse and traditional chatbots is that it does not merely answer questions; rather, it can help users complete a series of practical tasks, including sending emails, scheduling travel, shopping, and filling out forms. Some tasks can even continue executing after the user exits the app.

As of September 18, Muse's daily active users had reached 448,000. Downloads have continued to rise since its launch, briefly making it one of the most downloaded free apps on the US App Store.

For Meta, this kind of user feedback is particularly important. Over the past period, the company has continuously invested heavily in building AI infrastructure and launched multiple models and AI products, but when these investments will translate into services that consumers can directly experience has been a constant focus for investors.

Muse provides, at the very least, a relatively intuitive answer.

Wells Fargo (WFC) subsequently raised Meta's price target from $640 to $796, believing that the company now has a clearer AI product growth logic.

It is precisely from this that Munster sees opportunities for Apple, Tesla, and SpaceX. He believes that once a product truly enters the market and allows users to form stable usage habits, the market's evaluation of the company tends to become clearer than before the product's launch.

Apple and Tesla's New Products Move Closer to Commercialization

Among the three companies listed by Munster, Apple has the clearest product timeline. Apple's first foldable phone, the iPhone Duo, is expected to begin deliveries on October 23, priced at $1,999, with an unfolded screen size reaching 7.6 inches.

Counterpoint estimates that sales of the product could reach approximately 6 million units by the end of the year. IDC, meanwhile, projects that Apple could capture about a 40% share of the global foldable smartphone market by the end of 2027.

Apple may first benefit from the upgrade demand driven by the foldable iPhone Duo, but the more important product remains a personalized Siri. The new version of Siri can draw on information from emails, text messages, and photos, and complete tasks across different apps. If the actual user experience is stable enough, Apple is poised to leverage its vast device base to rapidly expand consumer AI applications.

Tesla's product roadmap is divided into three stages: FSD, Cybercab, and Optimus. The potential upside for each expands sequentially, though commercialization difficulty also rises step by step.

Among them, FSD v15 is closest to commercial validation. If the new version can reduce human intervention frequency and support Robotaxi in expanding driverless operations, the market may reevaluate the value of Tesla's software and autonomous driving business.

Cybercab remains in a limited operational phase, with Tesla's Robotaxi fleet primarily using the Model Y. Optimus faces higher mass-production hurdles, so in the short term, actual progress on FSD remains the key factor driving Tesla's stock price.

SpaceX Has the Most Room for Imagination and the Longest Payoff Period

SpaceX is betting on a far more distant market—in-orbit AI computing. The company plans to deploy computing facilities to space via the Starmind satellite network, powered by solar energy and using Starship for large-scale launches.

Under current plans, SpaceX targets its first orbital computing launch in the fourth quarter of 2027, with large-scale deployment potentially starting in 2028. The company also plans to adopt space-optimized Nvidia Vera Rubin systems and stated that it has already drawn interest from prospective clients for orbital capacity.

This concept attempts to solve the power, land, and heat dissipation constraints faced by terrestrial AI data centers. If the technical and economic models are validated, SpaceX could transition from a satellite communications and rocket launch company into a space AI infrastructure operator.

However, Starmind remains a long way from actual commercialization. A large-scale satellite network requires an extremely high frequency of Starship launches while also addressing issues such as equipment heat dissipation, in-orbit maintenance, data transmission, regulatory approval, and data sovereignty. A vast gap remains between current launch capabilities and the long-term vision of a million satellites.