Will Space Stocks Outperform the S&P 500? - Goldman Sachs

A custom Goldman Sachs basket of US space and satellite stocks has risen about 13% year-to-date, outpacing the S&P 500's 9.8% gain, and has surged over 360% in the past two years. SpaceX was added to the basket on July 14 following its IPO, and analyst estimates project many companies in the basket will swing to profitability by 2027 as launch and satellite costs decline.

Why it matters: Goldman Sachs sees opportunities beyond launch providers in the 'picks and shovels' segment of the space supply chain—including semiconductors, communications infrastructure, and advanced materials—drawing a parallel to how AI investing shifted from model developers to infrastructure providers.