I'm Sitting Out the SpaceX IPO. Here's What I'm Buying Instead.

The bullish buzz surrounding SpaceX’s initial public offering isn’t likely to last for more than a few days, setting the stage for a pullback from the stock.

Meanwhile, other tickers with more reasonable valuations and companies with more certain opportunities are available at a discount.

One of these alternatives is particularly compelling right now, if you can look at least five years down the road.

The buzz surrounding SpaceX 's public offering remains palpable. Indeed, it looks, sounds, and feels like a must-have at any price.

And I'm not touching it with a 10-foot pole. Oh, I might test the waters in the future, once shares suffer the usual post-IPO setback. In the meantime, though, I've identified something far more compelling because it's far more certain with far less volatility. That's the Finnish telecom company Nokia (NYSE: NOK) .

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You probably know it best as one of the once-great mobile phone makers. It's still technically in the business, too, albeit only through licensing of its tech and its brand name. But the crux of the company's business these days is communications infrastructure. It makes everything from equipment for mobile phone service providers to data center connectivity solutions to broadband platforms, and more.

These are crowded markets and, outside of artificial intelligence (AI) circles, not particularly high-growth ones. Nokia's 2025 top line of 19.9 billion euros was only about 3% better than 2024, for perspective. Operating profits fell to about one-third of the prior year's per-share bottom line.