SpaceX earnings tonight, Tesla tomorrow — the AI selloff ends or deepens here.
The Daily Digest
Dark Bulls
Tuesday · October 20, 2026
SpaceX reports its first quarterly earnings as a public company tonight. Tesla follows tomorrow. For a market that has spent three weeks selling off AI infrastructure, these two numbers will do more than any Fed speech to decide whether the selloff is over — or just getting started.
Tuesday. The next 48 hours are unusually loaded: SpaceX after the bell today, Tesla Wednesday evening. SpaceX's debut as a publicly traded company earlier this year sparked over $100 billion in new space-sector investment commitments — now investors will see whether the underlying business justifies the valuation. For Tesla, the bar is already low: analysts are modeling 45 cents per share, $27.9 billion in revenue, on deliveries of 486,532 units that fell year-over-year. Meanwhile Elon Musk is proposing to give children SpaceX stock through the new "Trump Accounts." Oil is back above $109. Trump's approval has hit a record low. Here's what you need to know.
On January 30th, Elon quietly filed a document with the FCC.
It asks permission to launch 1,000,000 satellites.
Bloomberg confirmed it.
SpaceX has about 10,000 in orbit today. That took 20 years.
Now Elon wants 100 times more.
Not for internet.
For AI data centers in space.
SpaceX calls it "the largest actionable total addressable market in human history."
There's just one thing Elon can't build himself.
The chip that runs every satellite.
One small public company owns that design. Elon pays it on every chip.
1,000,000 satellites could mean a 100X bigger bill.
Dylan believes this stock takes off October 24th.
One FCC filing proves it. See the ticker here >>
The Buck Stops Here,
Kelly Maguire
Behind the Markets
P.S. You don't need to be a SpaceX insider. You can own this one in any brokerage account.
Get in before October 24th here >>
It asks permission to launch 1,000,000 satellites.
Bloomberg confirmed it.
SpaceX has about 10,000 in orbit today. That took 20 years.
Now Elon wants 100 times more.
Not for internet.
For AI data centers in space.
SpaceX calls it "the largest actionable total addressable market in human history."
There's just one thing Elon can't build himself.
The chip that runs every satellite.
One small public company owns that design. Elon pays it on every chip.
1,000,000 satellites could mean a 100X bigger bill.
Dylan believes this stock takes off October 24th.
One FCC filing proves it. See the ticker here >>
The Buck Stops Here,
Kelly Maguire
Behind the Markets
P.S. You don't need to be a SpaceX insider. You can own this one in any brokerage account.
Get in before October 24th here >>
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| In Focus |
SpaceX reports its first earnings as a public company tonight, Tesla follows tomorrow. The results will either restore investor confidence in the tech selloff's biggest names — or deepen it.
October 20, 2026 · Markets / Technology
SpaceX went public earlier this year at a valuation that made it one of the largest IPOs in American history. Tonight's earnings report — one of its first as a listed company — arrives at an awkward moment: AI infrastructure stocks have shed 15–25% over the past three weeks as investors question whether the capital pouring into data centers, chips, and satellite networks will ever generate returns commensurate with the investment. SpaceX sits at the intersection of all three. Its Starlink division provides the revenue; its satellite manufacturing ambitions drive the capital expenditure. The question Wall Street wants answered is how those two lines compare.
The backdrop is the FCC filing that has been circulating in investor circles since January: SpaceX's request to launch up to one million satellites — versus the roughly 10,000 currently in orbit — for AI data centers in space. The company has described it as "the largest actionable total addressable market in human history." Whether that framing translates into anything visible in tonight's balance sheet will be the first real test of whether the story has numbers behind it. Analysts at Morgan Stanley estimate Starlink alone could be generating $8–10 billion in annual revenue by the end of 2026; the report tonight will either confirm or challenge that range.
Meanwhile Elon Musk has put forward a proposal to distribute SpaceX equity to children through the Trump administration's newly established "Trump Accounts" — tax-advantaged savings vehicles designed as a successor concept to baby bonds. The idea has not been formally adopted, but it has generated attention as a way to make SpaceX ownership broader before a more conventional secondary offering. Whatever its policy merits, it underlines how intertwined Musk's commercial ventures and his role in Washington have become.
"
For Tesla, the bar is already low. The issue isn't whether they beat 45 cents — it's whether guidance suggests deliveries recover in Q4. A year-over-year decline is already priced in. Another quarter of the same is not.
— Wall Street consensus, October 2026
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Tesla's challenge is more existential. Third-quarter deliveries of 486,532 vehicles marked a year-over-year decline — the second such drop in three quarters. Analysts are modeling around 45 cents per share in earnings and $27.9 billion in revenue, both below the year-ago period. The stock recovered 3.8% on Monday as part of a broader tech bounce, but it remains roughly 35% off its 2026 high. What investors want to hear is whether the Q4 delivery outlook points toward recovery, or whether the pricing cuts that have propped up volumes are compressing margins to a degree that can't easily be reversed.
The broader market backdrop heading into earnings week is mixed. The S&P 500 and Nasdaq both closed higher Monday — up 0.4% and 1.0% respectively — as a brief respite from the three-week selloff. But oil pushed back above $109 overnight as Houthi forces claimed six strikes on Saudi infrastructure in 48 hours, including facilities at Yanbu that handle roughly five million barrels per day. Brent at $109 means energy is still the week's strongest sector while everything else waits for guidance from the companies that have been at the center of the AI story. SpaceX and Tesla are both of those things. Tonight and tomorrow, the market will start to find out if the story has earnings to match it.
| Today's Digest |
Urgent Retirement Update
Congress changed the rules.
And anyone with money in a 401(k), IRA, or Roth IRA needs to know what happened.
The Wall Street Journal said it upends 20 years of retirement planning — and sticks it to the middle class.
Retirement expert Bob Carlson has been watching Washington for 35 years.
He says he's never seen anything like this.
Click here for the full update — and what can still be done before it's too late.
And anyone with money in a 401(k), IRA, or Roth IRA needs to know what happened.
The Wall Street Journal said it upends 20 years of retirement planning — and sticks it to the middle class.
Retirement expert Bob Carlson has been watching Washington for 35 years.
He says he's never seen anything like this.
Click here for the full update — and what can still be done before it's too late.
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— David
Dark Bulls
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