TNB Tech Minute: SpaceX’s Valuation Now $1 Trillion Lower Than Its Peak

**SPEAKER_1** (0:00)
This podcast is brought to you by ReliaQuest. Cyber criminals are constantly attacking. They want your data, they want your identity, they want your innovation. ReliaQuest fortifies your business with agentic defense, AI that detects, contains, and eliminates cyber threats in minutes. It helps your security team move faster at the work that matters most to protect the business now and delivers insights to help them predict what's next. ReliaQuest, agentic defense for the enterprise. Learn more at reliaquest.com.
That's reliaquest.com.

**Julie Chang** (0:32)
Here's your afternoon TNB Tech Minute for Friday, July 17th. I'm Julie Chang for The Wall Street Journal. SpaceX's valuation is now roughly $1 trillion lower than its high. That's according to FactSet. The company's market capitalization hit a peak of nearly $2.7 trillion about a month ago, four days after making its Wall Street debut. Since then, the stock has had a tough stretch that accelerated this week, with the price of its shares closing lower each day. Its valuation dropped to about $1.6 trillion earlier today. Yesterday, the company surprised investors when it aborted a crucial test launch of its Starship rocket right as the vehicle was supposed to lift off.
Apple briefly edged out Nvidia to reclaim its title as the most valuable publicly traded company in the US. In the early morning, Apple's market capitalization was above $4.9 trillion, with Nvidia right behind at about $4.8 trillion. The tech giants flipped back again by midday trade. Nvidia was the darling of Wall Street for the past year, but its stock has been volatile due to skepticism over the pace of the AI buildout. Nvidia stock is up more than 15% over the past year, but it's trading below its May high when its market cap peaked around $5.5 trillion. Apple, meanwhile, has seen a steady rise. It may have lagged behind an AI, but its iPhones continue to be a hit. Apple stock has risen nearly 58% over the past year.
And investors continue to punish Netflix today after the streaming giant's second quarter earnings failed to ease concerns about weak viewer engagement and slowing growth. Shares fell as much as 11% in morning trading, and the stock has lost nearly half its value over the past year. It's currently trading down about 7%.
And that's your TNB Tech Minutes. Check back Monday morning for another Quick Tech Update.

**Telus Demos** (2:27)
Hey, this is Telus Demos.

**Miriam Gottfried** (2:29)
And I'm Miriam Gottfried. We're reporters at The Wall Street Journal and the hosts of WSJ's Take on the Week. It's a weekly show that gives listeners a leg up in the world of markets and investing.

**Telus Demos** (2:38)
From the Fed's moves to market bubbles, we dive into the biggest deals, key players, and business news ahead. If you're looking for more news and tools that you can use to help navigate the markets, consider becoming a subscriber to The Wall Street Journal.

**Miriam Gottfried** (2:50)
Visit subscribe.wsj.com/take on the week to subscribe now.