BUSINESS

The National Weather Service has forecast major and extreme heat risks for parts of the central U.S. through Monday.

Real Madrid has been linked with a summer move for Rodri after the midfielder helped Spain to World Cup glory.

SpaceX (SPCX) gave investors something of a spectacle on Friday.Reuters reports that Starship’s 13th test flight lifted off from Texas, released 20 Starlink V3 satellites, endured the reentry with its cleanest heat-shield performance yet, and completed an upright splashdown in the Indian Ocean. According to The Washington Post, CEO Elon Musk talked about the data haul, arguing SpaceX got everything it needed from the heat-shield experiment “and then some,” while engineer Kate Tice called it “lucky flight 13.” The management’s imagery and cheering made it seem like the mission was a clean sweep.In reality, though, it wasn’tThe satellites were temporary test articles on a suborbital path, burning up as planned instead of joining the Starlink network. Perhaps more importantly, five Super Heavy engines failed to relight during descent, which sent the booster into the Gulf of Mexico quicker than intended.SpaceX spokesperson Dan Huot even said that SpaceX targeted a much softer return. The flight advanced upper-stage reentry, payload deployment, and communications testing, but problems with booster reliability and full reusability dampened much of the enthusiasm. The mixed showing is unlikely to go much for the stock that’s experienced a ton of headwinds of late. Morgan Stanley’s Adam Jones, though, feels the market is overlooking a critical part of SpaceX’s future value amidst greater scrutiny on launch setbacks, capital spending, and near-term selling pressure. 

SpaceX shares fall as investors question the value of its AI business Michael Gonzalez/Getty Images

Why Morgan Stanley say SpaceX’s AI business is worth nothing at $100Jones believes that the market is beginning to value SpaceX almost entirely as a launch-and-connectivity company, assigning little or no value to its AI assets as reported by Bloomberg.More SpaceX:Elon Musk’s startling claim to SpaceX investorsCiti sends powerful sign to SpaceX investorsBeaten-down stock lets you buy SpaceX below market priceAccording to Jones,”Many ascribe zero or even negative value for AI given the high capex requirements relative to Space & Connectivity, largely uncertain economics, and the high degree of management time devoted to the business.”Consequently, he believes that the disconnect offers a far more attractive entry point with investor sentiment deteriorating sharply.SpaceX shares approached $110.85 on the back of concerns of an upcoming insider lockup expiration, elevated AI spending, and macro uncertainty, along with a broader rotation away from high CapEx technology companies. Yet Morgan Stanley feels the company’s operating fundamentals remain “largely unchanged.”Morgan Stanley applies a sum-of-the-parts framework, where basicallySpace and connectivity value + AI value = SpaceX equity valueJonas’s $300 price target (one of the highest on Wall Street) accounts for over 50% of SpaceX’s valuation to AI. That shows Morgan Stanley values the company’s AI operations at over $150 per share, with the rest coming from launch services, Starship, satellite connectivity, and related space infrastructure.Not surprisingly, all four banks that helped underwrite SpaceX’s offering agree with Morgan Stanley. Goldman Sachs, Bank of America, Citigroup, and JPMorgan have all issued buy ratings. How has SpaceX stock performed since its IPO?As of the latest available Yahoo Finance data, SpaceX (SPCX) stock closed Friday, July 24, 2026, at $115, down 2.7% for the session. For perspective, according to Forbes, SpaceX priced its IPO at $135 per share on June 11, 2026, closing the first day at a gain of about 19.2% from the $135 IPO price. Moreover, SpaceX reached its all-time intraday high of $225.64 on June 16, 2026, only two trading sessions after its debut. At that level, the shares were up 67% from the $135 IPO price and 50.4% from their $150 opening trade. Additionally, Yahoo Finance lists SpaceX’s all-time and 52-week intraday low at $110.85. That was 17.9% below the IPO offer price and 26.1% below the first public trade of $150. How high could SpaceX stock go?According to Seeking Alpha data, Wall Street’s consensus puts SpaceX’s average 12-month target at $236.71, implying 105.7% upside from roughly $115. Forecasts range from $62 to $800, indicating a remarkably wide spread, underscoring disagreement over execution and valuation.Morgan Stanley carries one of the more audacious mainstream $300 targets on SpaceX. Its bull case assigns substantial value to SpaceX’s orbital AI opportunity.Goldman Sachs rates SpaceX a Buy with a $205 target, reflecting growth across launch, connectivity, and AI, but offers a far more restrained valuation than Morgan Stanley.Bernstein’s $239 and Citi’s $200 targets sit nearer the broader consensus, while Macquarie’s recent $250 target suggests roughly 117% upside.Raymond James’ Street-high $800 target assumes exceptional Starship and AI execution, according to Barrons.
Sources: Yahoo Finance, Barron’s, Seeking Alpha.
What does Morgan Stanley’s AI valuation mean for SpaceX investors?The AI debate matters a ton because it’s the bulk of Morgan Stanley’s SpaceX valuation.Hence, if the AI business generates the value the bank’s analyst expects, SpaceX stock might appreciate substantially even without a major re-rating of its launch, Starship, and satellite-connectivity operations.Morgan Stanley believes that the traditional space businesses offer a valuation foundation, while Grok, Cursor, and the wider AI platform offer most of the potential upside. At $100 per share, investors might be assigning little or no positive value to that AI opportunity.Nevertheless, it seems investors aren’t discounting the AI side of its business on the back of massive capital requirements, uncertain long-term margins, intense competition, and the risk of consuming cash for years without offering meaningful returns. That disagreement essentially defines the investment case. Morgan Stanley sees a valuable AI platform that investors might receive for free. Bears, on the other hand, see a capital-intensive operation that deserves a negative value, as it’s likely to absorb cash generated by SpaceX’s stronger businesses.That is perhaps the clear weakness in the “free AI” framing. An unprofitable business isn’t genuinely free if it requires multiple capital injections, raises borrowing, causes shareholder dilution, or weakens execution elsewhere. In that scenario, slapping a zero value on AI could actually be generous.The bull case thesis, therefore, depends on two conditions.SpaceX’s launch and connectivity businesses must independently support something close to a $100 share value, and the AI division must eventually produce returns above its cost of capital. If either of those assumptions doesn’t come to fruition, $100 might not represent a valuation floor. For investors, the question is not simply whether AI has potential, but whether that potential could create quicker value than it consumes cash.Related: Bank of America says Alphabet stock investors are missing the bigger signal

Lando Norris took pole position for the Hungarian Grand Prix while Lewis Hamilton received a grid penalty that dropped him down from second. Here’s the full starting grid.

The 2026 KM Chart Awards honored K-pop’s biggest achievements, with four Daesangs given out.

While the name was born out of a 2010s-era internet joke about slapping misbehaving tourists with an extra fee, the “tourist tax” has in the ensuing decade become a presence in many cities and destinations seeing large numbers of foreign visitors.The name itself is a bit of a catch-all term that refers both to the entry fee that some countries charge arrivals at the airport and the daily levy that many European cities add to the price of the nightly hotel or rental property rate.The city of Amsterdam just raised the latter to, at 12.5% of the cost of one’s room rate, one of the highest in the world. Other cities with this type of tourist fee include Paris in France, Berlin in Germany as well as most major cities in Italy and Spain. In the U.S., New York City and Los Angeles also charge a similar levy that is presented as a hotel occupancy and sales tax.Edinburgh starts charging travelers to Scotland a daily hotel taxThe latest city to start charging a visitor levy is the Scottish capital of of Edinburgh. Voted in by the city’s councillors in 2025, the 5% addition to the cost of the nightly stay at any hotel, hostel, bed-and-breakfast or property rental in the city came into effect on July 24 for all visitors booking accommodation in the city.The good news is that this tax is capped after five nights spent at the same location and does not rise during peak periods of the year like in certain other European cities.Related: Australia will make it easier for everyone to visitCity councillors presented the fee as a way to redirect funds to keep the city clean, maintain infrastructure and otherwise mitigate the effects of rising numbers of tourists amid limited resources to manage them.

Those who book a hotel in Edinburgh now need to pay an additional nightly tax of 5%.The Edinburgh Grand

“The city’s popularity comes at a cost”: What else to know about the new Edinburgh city taxReports from city authorities show that the numbers of international visitors to Edinburgh increased by approximately 10% in the first part of 2026 compared to the previous year.This is the first such tax put in place in Scotland and does not apply to Glasgow or other destinations in Scotland; when similar efforts to put in place first started being pushed forward in Wales, many tourism industry representatives worried that it would drive visitors away from more rural destinations that rely on tourism.More Travel News:Airline to launch unusual new flight to Cayman Islands from the U.S.There is a very cool Irish version of swimming pigs in the BahamasUnexpected country is most luxurious travel destination for 2026Low-cost airline launches easier way to get to Sri LankaThe hotel tax is also sometimes presented as a way to encourage tourists to go beyond major cities and come to other parts of the country.”We know that the city’s popularity comes at a cost through the pressure it puts on our services and on the people who live and work here all year round,” Edinburgh Council Leader Jane Meagher said in a statement on the new levy. “This small new contribution from overnight visitors will help improve the services and public spaces we all depend on, while better managing the effects of tourism and major events.”Related: Popular cruise, tourist destination will triple entry tax

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Food storage is a household essential. It’s perfect for everything from meal prepping lunches for school or work to storing leftovers after dinner. Being such a necessity, you’d think it’d be easier to find long-lasting containers, but the quality can range from set to set. Many affordable food storage options are made of plastic with pieces that can warp and stain over time. Not to mention you risk getting microplastics in your food. That’s why many opt for glass food storage. They don’t stain or hold onto odors, and there are options versatile enough to not only store food, but also be safely used in microwaves, ovens, and even dishwashers. And if you’re looking for containers that cover all of these bases, you can’t go wrong with a Pyrex storage set, like this 18-piece set from JCPenney.What makes Pyrex so special?Pyrex is an iconic kitchenware brand that has been around for more than a century. It’s known for its durable pieces, from measuring cups to food storage, and even its colorful, vintage mixing bowls and casserole dishes that are still highly sought after to this day.The brand has a long history of being a staple in kitchens, but believe it or not, Pyrex has changed over the years, and even though there’s a trade-off, it may be for the better. Vintage Pyrex was made of borosilicate glass, a durable material that’s highly resistant to thermal shock, which is stress or breaking from sudden and extreme temperature changes. In the ’90s, Pyrex made in the United States switched over to tempered soda-lime glass. The material is more susceptible to thermal shock, but it’s still durable, particularly from physical impact from everyday bumps and drops, making it long-lasting for everyday use. With new Pyrex that you can use in the oven, there are precautions you should take, like pre-heating the oven before putting in the dish and not putting Pyrex that was just in the refrigerator or freezer directly into a hot oven. However, not all modern Pyrex is oven safe, so make sure to check with each individual product for proper usage.Pyrex sale at JCPenneyPyrex 18-Piece Storage Set

Courtesy of JCPenney

Check price at JCPenneyIf you’re on the lookout for a good Pyrex deal, JCPenney has an 18-piece set with glass containers and plastic lids on sale right now for only $45. When you use the code POPQUIZ at checkout, you get 42% off its regular price of $78.The set includes six round bowls with lids, including 2-cup, 4-cup, 7-cup, and 1-cup sizes; two 3-cup rectangular containers with lids; and one 6-cup rectangular container with a lid. With colorful lids and different sizes, you can stay organized in your fridge and color-code your food to know what’s inside with a quick glance rather than digging around to find what you need. The glass containers are not only non-porous and not prone to stains or odors, but they’re also safe to use in the dishwasher, refrigerator, and microwave. The plastic lids are BPA-free, and they’re also safe to use in the refrigerator, microwave, and the top rack of a dishwasher.For only $45, this Pyrex set can store your snacks, leftovers, and meals with ease. And with the Pyrex name, you’ll likely have it for years to come.More Pyrex food storage setsPyrex Simply Store Tinted 6-Piece Storage Set

Courtesy of Target

Check price at TargetCheck price at WalmartPyrex Freshlock 10-Piece Glass Storage Set

Courtesy of Walmart

Check price at WalmartPyrex Simply Store 14-Piece Glass Storage Set

Courtesy of Walmart

Check price at WalmartPyrex Freshlock 10-Piece Square Glass Food Storage Set

Courtesy of Amazon

Check price at AmazonTheStreet Shopping is your guide for shopping insights and advice. We look beyond the price tag to find the best value in home, tech, and wellness gear based on product features and real-world use. Read more about our Editorial Standards and How We Choose Our Shopping Deals. 

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The Toronto Blue Jays found themselves at the center of attention from U.S. President Donald Trump during a recent address.

“At that point, they arguably no longer need the government’s retirement safety net.”