Should SpaceX Investors Be Worried About Competition From Amazon?
Source: Motley Fool ·
There are other reasons to consider avoiding SpaceX stock.
From the source
Amazon (AMZN +0.54%) dominates several markets in which it competes. It has the leading market share in the U.S. e-commerce industry and the global cloud computing space. It is also a notable player in video and music streaming, as well as digital advertising. Given Amazon's track record, nobody wants to compete with the company as it can be a formidable opponent. That's why Space Exploration Technologies (SPCX +0.56%) should at least acknowledge Amazon's push into some of the markets where it dominates. Should SpaceX investors be worried? Image source: The Motley Fool. Targeting a $1.6 trillion market SpaceX's most profitable business right now is providing internet connectivity via a constellation of Low Earth Orbit (LEO) satellites. In the second quarter, the rocket company's connectivity segment recorded $4.3 billion in revenue (more than its two other businesses combined), up almost 66% from the year-ago period. And this unit had an operating income of $1.7 billion, up 79% year…