/images/2023/09/14/woman_using_laptop.jpg)
/images/2019/12/06/smart_strategies_to_save_money_on_car_insurance.jpg)
:format(webp)/images/2026/07/27/amazon-corporate-building.jpg)
/authors/damilola_esebame_headshot.jpg)
/authors/laura_hohenstein_headshot.jpg)
Add Us On Google
Amazon.com Inc. (NASDAQ:AMZN) trails the combined market capitalization of Tesla Inc. (NASDAQ:TSLA) and Space Exploration Technologies Corp. (NASDAQ:SPCX) by roughly $500 billion as of August 24, 2026.
Amazon's $2.8 trillion valuation sits below Tesla and SpaceX's combined $3.3 trillion, but the profitability gap runs entirely in Amazon's favor. Reviewing where you stand financially relative to how your portfolio weights these three companies is worth the effort, and the 2030 math behind this comparison is specific enough to evaluate.
Set up direct deposit - pocket $400
Set up an eligible direct deposit with SoFi Checking and Savings and you could pocket a bonus of up to $400. Make the switch, set up direct deposit, earn the bonus. It basically takes no extra work at all other than following these steps.
Why people are switching: This account earns up to an insane 4.00% APY1 <p>Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.10% APY as of 5/28/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#4">sofi.com/banking#4</a>. SoFi Bank, N.A. Member FDIC.</p> on savings for up to six months (3.10% APY standard + 0.90% APY boost) on top of that $50 or $400 bonus.2 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at <a href="https://www.sofi.com/banking/checking-offer/">sofi.com/banking/checking-offer/</a></p> That's way better than the measly 0.38% APY (as of 06/15/26)3 <p>Based on <a href="https://www.fdic.gov/national-rates-and-rate-caps">this</a> FDIC data, as of 6/15/26.</p> national average savings accounts offer.
No monthly fees and no surprises. Open your account and earn up to a $400 bonus
Amazon's $27.5 billion operating income quarter ended June 30, 2026
Amazon reported $200.6 billion in net sales for the second quarter of 2026, up 20% year over year, with operating income of $27.5 billion, a 43% increase, the company's SEC filing confirmed.
- AWS revenue of $42.2 billion, up 37%, its fastest growth in 18 quarters.
- AWS produced 21% of revenue but delivered 60% of operating income.
- Operating margin reached a record 13.7%.
AWS operating margin expanded to 39%, up 650 basis points year over year. Advertising revenue grew 26% to $19.8 billion, adding another high-margin revenue stream beyond cloud computing.
Tesla and SpaceX combined earn roughly $5 billion on $151 billion in 2026 revenue
Tesla and SpaceX together are projected to generate approximately $5 billion in combined earnings on $151 billion in revenue in 2026, a net margin of roughly 3%, the Motley Fool analysis noted. Amazon's projected net income of $133 billion this year is more than 26 times its combined total.
Tesla's revenue declined in 2025 as electric vehicle sales softened, but the company returned to double-digit growth in 2026. SpaceX trades barely above its IPO price of $135 and has been public for just over two months. The growth rates of both companies exceed Amazon's, but the profitability gap remains enormous.
Consensus projects Amazon at $215 billion in net income by 2030
Wall Street consensus estimates place Amazon at $215 billion in net income on $1.38 trillion in revenue by 2030, the Motley Fool analysis reported. The projections represent gains of 62% and 66%, respectively, from 2026 levels.
Tesla and SpaceX combined are projected to reach $151 billion in net income on $636 billion in revenue by the same year. The combined pair grows faster, particularly SpaceX's satellite connectivity and launch services business, but Amazon is still expected to generate roughly 42% more profit on more than double the revenue.
Why Tesla and SpaceX grow faster but may still fall short
SpaceX's business model of satellite connectivity through Starlink and cost-effective reusable rockets positions it for higher margins by 2030, and Tesla's expansion into autonomous driving and robotics could add entirely new revenue streams. Combined, they are projected to generate wider net margins than Amazon by the end of the decade.
Amazon already generates more than five times the revenue of the combined pair and converts a higher percentage of that revenue into profit. Faster growth from a smaller base does not automatically close a gap of that magnitude, particularly when the larger company is also accelerating through AWS and advertising.
AWS at 39% operating margins and $496 billion in backlog
AWS ended the second quarter with a contract backlog of $496 billion, growing at triple-digit rates, CNBC reported. CEO Andy Jassy stated that demand exceeds available capacity and that this dynamic is expected to persist through at least 2028.
A backlog of that size provides revenue visibility that neither Tesla nor SpaceX currently matches. Tesla's order book fluctuates with consumer sentiment and incentive availability, while SpaceX's launch and connectivity contracts, though growing, operate at a fraction of AWS's scale.
Amazon at 21 times earnings versus Tesla and SpaceX at roughly 660 times
Amazon trades at approximately 21 times its projected 2026 net income of $133 billion, a multiple that reflects a large, profitable, and predictable business. Tesla and SpaceX combined trade at roughly 660 times their projected $5 billion in combined 2026 earnings, reflecting expectations for rapid future growth.
The gap between those multiples tells you how much growth the market has already priced into the Musk companies compared with Amazon. Your portfolio exposure to each side of this trade directly affects how much of your returns depend on speculative projections versus established cash generation.
Risks of assuming the math plays out as projected
Amazon's $220 billion in 2026 capital expenditures and $7.6 billion free cash flow outflow over the trailing twelve months show the scale of investment required to sustain AWS growth. A slowdown in AI infrastructure demand or a shift in cloud market share could reduce the profitability that anchors the 2030 thesis.
A Tesla-SpaceX merger, autonomous driving breakthroughs, or SpaceX's Starlink reaching profitability faster than expected could compress the gap from the other direction. Consensus estimates are starting points, and cannot be taken as guarantees.
Bottom line
Amazon generates more than five times the revenue and more than 26 times the profit of Tesla and SpaceX combined, yet trails their market capitalization by $500 billion. Consensus estimates project Amazon surpassing the pair's combined net income by roughly 42% by 2030, with more than double the revenue, making the profitability case difficult to dismiss even with faster growth from the Musk companies.
Knowing which thesis your retirement portfolio already leans toward is the clarity you need before you start investing another dollar in either direction. The math favors Amazon's profitability and scale, but the market currently prices Tesla and SpaceX for a growth trajectory that assumes both companies execute on ambitious timelines, and your allocation reflects which outcome you find more plausible.
This article is for informational purposes only and should not be considered investment advice.
More from FinanceBuzz:
- Retire like the rich: 14 ways you could build wealth in your 50s.
- Find out if you could pay less for car insurance in just a few clicks.
- Make these 7 savvy moves when you have $1,000 in the bank.
- 14 moves seniors could benefit from but often forget about.
/images/2022/11/02/senior_people_attending_computer_and_technology_education_class.jpg)
/images/2025/02/24/retirees-enjoying-free-time.jpg)
/images/2024/02/01/multi-ethnic-friends-enjoying-art.jpeg)
/images/2025/01/24/adobestock_657213156_2.jpg)
/images/2024/10/17/smiling-grandmother-shows-money-cash-adobe.jpg)
/images/2019/06/16/african-couple-talking-about-high-yield-savings-account.jpg)
/images/2023/02/22/500x180_dark_text.png)
- American Hartford Gold helps individuals protect their retirement by rolling over IRAs and 401(k)s into physical gold.
- Includes FREE IRA rollover and storage for up to 3 years.
- Get up to $20,000 in free silver on qualifying purchases.
/images/2021/08/18/gold-and-dollars.jpg)
/images/2025/03/07/person_at_computer_1.png)
/images/2020/11/05/man-adding-coins-to-jar.jpeg)
/images/2025/02/07/warren-buffett-ai.jpg)
/images/2026/07/01/14_jim-cramer-3.jpg)
/images/2026/07/29/ford-dealership-sign.jpg)
/images/2026/09/07/berkshire-hathaway-warren-buffett.png)
/images/2026/07/01/15_elon-musk-1.jpg)
/images/2026/02/13/tesla-store-sign.jpg)
/images/2026/08/11/social-security-kevin-oleary.png)
/images/2026/09/02/palantir-office-exterior.jpg)
