Missed the $SPCE train because you weren’t retarded enough?
Let me introduce you to Filtronic: $FLTCF.
How do you think Starlink gets its internet, crayon eater?
Does it magically exist in space?
No, retard, it ALL relies on Filtronic amplifiers to get up there.
https://preview.redd.it/ksyp3aaqyo4h1.jpg?width=2560&format=pjpg&auto=webp&s=f69003d7ebf59a20fe00f82eb78e08be83ed1101
TLDR
SpaceX is targeting a $2 TRILLION valuation at IPO in June (you know this)
But what you probably don't know is their Starlink V3 satellites physically CANNOT work without a specific gallium nitride (GaN) E-band amplifier
There is exactly ONE company in the world that makes the working version at scale: FILTRONIC ($FLTCF)
That company has a market cap of \~$1.2B
SpaceX tried to make this amplifier themselves but simply could not get it right (source: my wife’s boyfriend who works in an adjacent sector)
What this means for you: LONG SHARES IN FILTRONIC FLTCF
WTF does FLTCF make?
https://preview.redd.it/jq3k0lgryo4h1.jpg?width=1400&format=pjpg&auto=webp&s=efa20fbbf5151235763afab014221e7d33c5005d
They make a Gallium Nitride solid state power amplifier operating at 71-86 GHz (E-band).
Translation for the smoothbrained is that this thing that lets a satellite scream petabits of internet down to a ground station in without the signal becoming static. IT sends 22 watts of focused radio energy through a frequency so high that the FCC literally won’t let a human stand in front of one without protective gear. The Cerus 32 concentrates 22W into a beam tighter than your mom's twat.
EVERY Starlink V3 satellite (the new big ones that will launch on Starship) needs 4-6 of these. EVERY new Starlink ground gateway needs racks of them. SpaceX is the only LEO operator at scale using E-band, which means FLTCF is the SOLE-SOURCE supplier for this specific component in the entire constellation.
Some differentiated alpha for you from my $15,000 AlphaSense seat, you can thank me later
I pulled a recent AlphaSense expert call transcript from a current SpaceX Global Supply Manager. This is from march 2026. Filtronic is absolutely critical to Starlink deployment now and going forward.
https://preview.redd.it/pk92zuftyo4h1.png?width=592&format=png&auto=webp&s=0f91a729465b5c5c76c18b2227176b3148c0cd2a
https://preview.redd.it/eokn5g4uyo4h1.png?width=600&format=png&auto=webp&s=a2c55a233c2c0728050b601fe0e2c9934206e364
Eat these counterarguments, bears
“SpaceX will insource” → THEY ALREADY TRIED AND FAILED. This tech is incredibly difficult to engineer, let alone manufacture.
“83% customer concentration is dangerous” → Yes, in theory. In practice, mgmt is actively diversifying. Just signed Leonardo $30M (£24M), Airbus (OneWeb), Viasat/ESA, BAE Maritime, QinetiQ in the last 6 months. Concentration will drop to \~75% in FY26.
“It’s already up so much” → When SpaceX first landed a Falcon on a droneship, did you say “god damn, this company is all done for?” NO! When they unveiled Starship, did you say “there’s no more room for SpaceX to run?” NO! Filtronic has grown alongside Starlink. If you believe Starlink will continue to grow (it will), then Filtronic will continue to grow. This isn’t a meme rally on vibes. The underlying business is actually going to the moon.
My bull case: $11.43 price target by mid-2027
TLDR of assumptions: FY28 revenue: $445M from capacity expansion stemming from a likely new SpaceX contract (which I expect to happen once Starship succeeds). The way this models -> FY28 diluted EPS: 37.6p (\~$0.48) - Multiple: 24x cycle-peak - Target: 900p = $11.43 \- Return: +134%
This is based on the following:
- Starship and starlink V3 deployment cadence massively ramps up. Each V3 satellite carries 4-6 of FTCTF’s amplifiers (per AlphaSense expert: these go ON the satellite, not just in the ground gateway). 30K V3 satellites over 5 years = 120K-180K satellite-side un