SpaceX has rounded out its busiest July ever with a pair of Falcon 9 Starlink launches, simultaneously breaking its annual launch record less than seven full months into 2022.
The company has now completed six launches – five of which were Starlink missions – this month. The last two missions launched about 44 hours apart from opposite coasts of the United States – Starlink 3-2 from California’s Vandenberg Space Force Base (VSFB) on July 22nd and Starlink 4-25 from Florida’s Kennedy Space Center (KSC) on the 24th. Both Falcon 9 fairings and boosters were reused, as is now the norm. Both boosters also landed without issue, extending SpaceX’s record of consecutively successful landings to 59.
From the West Coast, booster B1071 helped launch 46 Starlink V1.5 satellites into a sun-synchronous (semi-polar) orbit. On the East Coast, Falcon B1062 sent 53 more Starlink V1.5 satellites on their way to a more equatorial orbit for its third Starlink mission overall.
All told, SpaceX managed to launch five batches of Starlink satellites and a Cargo Dragon spacecraft to the International Space Station between July 7th and July 24th – six Falcon 9 launches in 17 days. It’s the third time SpaceX has completed six launches in the same calendar month, but the first time the company has completed six launches in less than three weeks. The fact that Falcon 9’s launch cadence has come to feel so routine so quickly is nothing less than a testament to SpaceX’s excellence, as only one other rocket in the 65-year history of orbital spaceflight (the Soviet ‘Soyuz-U’) can still claim to have launched more in such a short period.
In fact, as previously reported, SpaceX itself is already making six launches in one calendar month seem ordinary. The company managed eight successful Falcon 9 launches in 30 days between June 17th and July 17th – narrowly falling short of Soyuz-U, which completed eight launches in less than 28 days in 1980.
What SpaceX can lay claim to with certainty, however, is consistently launching more satellites in short periods of time than any other country, agency, or company in history. In July, SpaceX launched 251 Starlink satellites, expanding its immense constellation by ~10%. SpaceX completed five Starlink missions in less than 30 days twice before, in May 2021 and 2022, with the former accounting for a record 292 Starlink satellites. Including non-Starlink payloads, SpaceX has technically launched 323 satellites in 27 days.
According to astrophysicist Jonathan McDowell, who independently monitors SpaceX’s satellites, 2665 working Starlink satellites are now in orbit, 2155 of which have reached operational orbits. 451 Starlink V1.5 satellites – all launched since April 2022 – are still in the process of raising their orbits and should be ready to join the operational constellation within a few weeks to three months.
Finally, Starlink 3-2 (July 22nd) was SpaceX’s 32nd launch of 2022, breaking its annual record of 31 launches (set in 2021) just 55% of the way into the new year. Every Falcon launch between now and the start of 2023 will set a new SpaceX record, which stands at 33 launches after Starlink 4-25. The company reportedly has up to seven Falcon 9 launches scheduled in August 2022.
Tesla stock (NASDAQ: TSLA) closed at an all-time high on Tuesday, jumping over 3 percent during the day and finishing at $489.88.
The price beats the previous record close, which was $479.86.
Shares have had a crazy year, dipping more than 40 percent from the start of the year. The stock then started to recover once again around late April, when its price started to climb back up from the low $200 level.
This week, Tesla started to climb toward its highest levels ever, as it was revealed on Sunday that the company was testing driverless Robotaxis in Austin. The spike in value pushed the company’s valuation to $1.63 trillion.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
It is the seventh-most valuable company on the market currently, trailing Nvidia, Apple, Alphabet (Google), Microsoft, Amazon, and Meta.
Shares closed up $14.57 today, up over 3 percent.
The stock has gone through a lot this year, as previously mentioned. Shares tumbled in Q1 due to CEO Elon Musk’s involvement with the Department of Government Efficiency (DOGE), which pulled his attention away from his companies and left a major overhang on their valuations.
However, things started to rebound halfway through the year, and as the government started to phase out the $7,500 tax credit, demand spiked as consumers tried to take advantage of it.
Q3 deliveries were the highest in company history, and Tesla responded to the loss of the tax credit with the launch of the Model 3 and Model Y Standard.
Additionally, analysts have announced high expectations this week for the company on Wall Street as Robotaxi continues to be the focus. With autonomy within Tesla’s sights, things are moving in the direction of Robotaxi being a major catalyst for growth on the Street in the coming year.
Elon Musk
Tesla needs to come through on this one Robotaxi metric, analyst says
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Tesla needs to come through on this one Robotaxi metric, Mark Delaney of Goldman Sachs says.
Tesla is in the process of rolling out its Robotaxi platform to areas outside of Austin and the California Bay Area. It has plans to launch in five additional cities, including Houston, Dallas, Miami, Las Vegas, and Phoenix.
However, the company’s expansion is not what the focus needs to be, according to Delaney. It’s the speed of deployment.
The analyst said:
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Profitability will come as the Robotaxi fleet expands. Making that money will be dependent on when Tesla can initiate rides in more areas, giving more customers access to the program.
There are some additional things that the company needs to make happen ahead of the major Robotaxi expansion, one of those things is launching driverless rides in Austin, the first city in which it launched the program.
This week, Tesla started testing driverless Robotaxi rides in Austin, as two different Model Y units were spotted with no occupants, a huge step in the company’s plans for the ride-sharing platform.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
CEO Elon Musk has been hoping to remove Safety Monitors from Robotaxis in Austin for several months, first mentioning the plan to have them out by the end of 2025 in September. He confirmed on Sunday that Tesla had officially removed vehicle occupants and started testing truly unsupervised rides.
Although Safety Monitors in Austin have been sitting in the passenger’s seat, they have still had the ability to override things in case of an emergency. After all, the ultimate goal was safety and avoiding any accidents or injuries.
Goldman Sachs reiterated its ‘Neutral’ rating and its $400 price target. Delaney said, “Tesla is making progress with its autonomous technology,” and recent developments make it evident that this is true.
Investor's Corner
Tesla gets bold Robotaxi prediction from Wall Street firm
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Tesla (NASDAQ: TSLA) received a bold Robotaxi prediction from Morgan Stanley, which anticipates a dramatic increase in the size of the company’s autonomous ride-hailing suite in the coming years.
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Percoco dug into the Robotaxi fleet and its expansion in the coming years in his latest note, released on Tuesday. The firm expects Tesla to increase the Robotaxi fleet size to 1,000 vehicles in 2026. However, that’s small-scale compared to what they expect from Tesla in a decade.
Tesla expands Robotaxi app access once again, this time on a global scale
By 2035, Morgan Stanley believes there will be one million Robotaxis on the road across multiple cities, a major jump and a considerable fleet size. We assume this means the fleet of vehicles Tesla will operate internally, and not including passenger-owned vehicles that could be added through software updates.
He also listed three specific catalysts that investors should pay attention to, as these will represent the company being on track to achieve its Robotaxi dreams:
- Opening Robotaxi to the public without a Safety Monitor. Timing is unclear, but it appears that Tesla is getting closer by the day.
- Improvement in safety metrics without the Safety Monitor. Tesla’s ability to improve its safety metrics as it scales miles driven without the Safety Monitor is imperative as it looks to scale in new states and cities in 2026.
- Cybercab start of production, targeted for April 2026. Tesla’s Cybercab is a purpose-built vehicle (no steering wheel or pedals, only two seats) that is expected to be produced through its state-of-the-art unboxed manufacturing process, offering further cost reductions and thus accelerating adoption over time.
Robotaxi stands to be one of Tesla’s most significant revenue contributors, especially as the company plans to continue expanding its ride-hailing service across the world in the coming years.
Its current deployment strategy is controlled and conservative to avoid any drastic and potentially program-ruining incidents.
So far, the program, which is active in Austin and the California Bay Area, has been widely successful.
Tesla stock closes at all-time high on heels of Robotaxi progress
Tesla needs to come through on this one Robotaxi metric, analyst says
