Amazon Regains Edge as SpaceX Market Cap Crashes Post-IPO

SpaceX briefly overtook Amazon in market value after its June 12 IPO but plunged 5% to $2.4 trillion by June 23, allowing Amazon to reclaim the fifth-most-valuable company spot at $2.6 trillion. The shift follows Amazon’s June 17 FCC waiver that removed a July deadline for Project Leo, accelerating its satellite deployment beyond 300 units already in orbit. Analysts now favor Amazon for its $717 billion 2025 revenue and $80 billion operating income versus SpaceX’s $18.7 billion revenue and $2.6 billion loss, despite Starlink’s $4.42 billion 2025 profit.