SpaceX ($SPCX) IPO in 2 Weeks: Focus on These Hidden Suppliers for 5-10x Gains - Skip the Hype
Outlier Capital
· Outlier Capital
· June 02, 2026 at 12:45
· ⏱ 5 min read
| Read on Substack ↗
Summary
The article argues that the best way to profit from SpaceX's upcoming IPO is to invest in its key suppliers (pick-and-shovel plays) rather than the IPO itself, as these suppliers have higher upside and are less subject to rotation. It identifies a top 5 list including Filtronic, Wistron NeWeb, Carpenter Technology, STMicroelectronics, and Velo3D, along with honorable mentions, all expected to benefit from SpaceX's scaling of Starlink, Starship, and government contracts.
•SpaceX targets a $1.8T+ valuation with an IPO as early as June 11-12, 2026 under ticker $SPCX.
•Starlink is the primary revenue driver, with explosive user growth, aviation deals, and a path to hundreds of millions of subscribers.
•Filtronic has secured multiple large escalating contracts with SpaceX for GaN E-band amplifiers for Starlink connectivity.
•Wistron NeWeb is the primary manufacturer of Starlink user terminals and has expanded in Vietnam driven by SpaceX.
•Carpenter Technology supplies specialty steels and Ni-superalloys essential for Starship and Raptor engines with strong pricing power.
•STMicroelectronics has a decade-long co-design partnership with SpaceX and has shipped billions of RF chips for terminals and satellites.
•Velo3D provides additive manufacturing for Raptor engine components and complex aerospace parts, with stock already reacting to IPO optimism.
Disclosed personal long position in Filtronic, a UK RF specialist with multiple large SpaceX contracts for GaN E-band amplifiers powering Starlink connectivity. Tiny market cap offers explosive upside
Disclosed personal long position in Filtronic, a UK RF specialist with multiple large SpaceX contracts for GaN E-band amplifiers powering Starlink connectivity. Tiny market cap offers explosive upside as SpaceX scales.
Direct volume play on Starlink subscriber growth as the manufacturer of user terminals. Manufacturing leverage and geopolitical resilience via Vietnam expansion.
Critical materials supplier for Starship/Raptor with aerospace/defense tailwinds and pricing power. IPO-driven sector tailwinds + cyclical recovery make it a 10x compounder.
High-risk/high-reward bet on additive manufacturing for SpaceX's Raptor engines. Higher-beta 100x-style candidate benefiting from SpaceX production ramps.
Honorable mention as a pick-and-shovel supplier of cryogenic gases (LOX) critical for SpaceX's Starbase operations. Lower probability of 5x due to larger market cap and diversification.
This newsletter, published June 02, 2026,
features Outlier Capital
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