3 Growth Stocks You Should Buy Instead of SpaceX

3 Growth Stocks You Should Buy Instead of SpaceX Marc Guberti, The Motley Fool Wed, June 17, 2026 at 3:52 PM GMT+2 5 min read SPCX NVDA INTC Space Exploration Technologies (NASDAQ: SPCX) , also known as SpaceX, just had the largest IPO in history and turned Elon Musk into the world's first trillionaire. However, that doesn't mean investors should rush to buy the stock. As of Tuesday morning, the company -- which remains unprofitable -- had a price-to-sales ratio of around 130.

That's a fairly high premium to pay. Luckily, you can choose from among many other growth stocks that have more reasonable valuations and enticing growth prospects. For example, these three megacap tech companies all make more sense to add to your portfolio than SpaceX's stock at current levels.

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Nvidia Nvidia (NASDAQ: NVDA) isn't exactly the world's biggest secret as an investment. It's the most valuable company by market cap, and its AI chips have fueled the entire AI boom. It graphics processing units (GPUs) sit at the heart of the technology that made the entire AI industry possible.

Yet despite several years of holding the lion's share of sales in the AI accelerator market, this $5 trillion-plus tech giant continues to post the type of growth rates you would expect from an ambitious small-cap or mid-cap stock. Revenue surged by 85% year over year in the company's fiscal 2027 first quarter (which ended April 27), with net profit margins surpassing 70%. The tech world's push into agentic AI is expected to require even more cloud computing power, which positions Nvidia for even more growth.

Management's guidance for its fiscal 2027 second quarter implies 11. 5% sequential growth. While rival AI chipmakers like Broadcom  and Advanced Micro Devices are growing as well, neither of them is growing as quickly as Nvidia.

It's simply in a class of its own, and with a 31. 4 P/E ratio, it offers a better margin of safety than SpaceX. Meta Platforms Meta Platforms (NASDAQ: META) stock hasn't fared well recently.

It's down by more than 10% year to date, but that doesn't mean it's a bad investment. The company behind Facebook, Instagram, and other social media apps delivered tremendous financial results in the first quarter. Revenue increased 33% year over year, and the company's net profit margin almost reached 50%.

Online ads remain a high-margin, high-growth opportunity. Meta Platforms makes almost all of its revenue from ads, but it has been diversifying into artificial intelligence with Meta Superintelligence Labs. The company released its first AI model from that division, and if progress compounds from there, that segment may eventually contribute meaningfully to its revenue growth.

Story Continues Meta Platforms trades at a P/E ratio of just 20. 6. That's the lowest valuation among the "Magnificent Seven" stocks, making it a far less risky pick than SpaceX.

Meanwhile, the 4% year-over-year increase in daily active users across its platforms that it reported last quarter shows that Meta Platforms is still attracting new people to its services. Alphabet With a market cap above $4 trillion, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is the world's second-most-valuable company. It enjoys multiple catalysts providing meaningful revenue and net income growth right now, and has built a bunch of smaller business units that have high potential.

Its 27. 3 P/E ratio is reasonable for a company that delivered 22% year-over-year revenue growth in the first quarter. Google ads continue to drive the majority of its total revenue, but Google Cloud's 63% year-over-year sales growth was significant.

As enterprise customers invest more in AI, the world's third-largest cloud infrastructure unit should certainly continue to benefit. Google Cloud also achieved a much higher growth rate than its larger rivals, Amazon Web Services and Microsoft Azure. Alphabet is also gaining market share among large language models with its Gemini AI model, and in the robotaxi space with its Waymo self-driving vehicle unit.

These segments aren't having much of an impact on Alphabet's overall financial results yet. However, their revenues could quickly multiply, and they have the potential to become much larger segments. All of this growth also comes with rising profits.

Alphabet delivered 30% year-over-year operating income growth and a 36. 1% operating margin in the first quarter. Net income came in much higher, in part due to unrealized gains on some of its stock investments.

Those added profits amount to a nice bonus, but the company's rising operating income shows that its underlying business is still gaining steam. That combination suggests Alphabet can continue to rally toward a $5 trillion market cap. Should you buy stock in Alphabet right now?

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See the 10 stocks » *Stock Advisor returns as of June 17, 2026. Marc Guberti has positions in Broadcom. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Amazon, Broadcom, Meta Platforms, Microsoft, and Nvidia.

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