Telecom stocks fall after SpaceX signals push into mobile service

EarningsM&A · Partnership Impact 4
โดย Investing.com·US·Read original
Summary · why it matters

U.S. wireless stocks tumbled Tuesday after SpaceX signaled plans to build a full-fledged mobile service, raising the prospect that Starlink could eventually compete directly with Verizon, AT&T and T-Mobile. SpaceX acquired 65 megahertz of wireless spectrum from EchoStar for a combined $19.6 billion across two deals announced last year, giving Starlink the airwaves needed to expand into mobile. SpaceX President Gwynne Shotwell said on a post-earnings call that the company plans to build the infrastructure to make Starlink a true mobile service and expects to pull quite a few customers away from the Big Three carriers. Shares of Verizon and AT&T fell more than 2% in premarket trading Wednesday, while T-Mobile slid 1.3%. The comments came alongside SpaceX's first earnings report as a public company, with second-quarter revenue totaling $7.8 billion, up 92% year-over-year, though capital expenditures surged to $18.4 billion from $2.8 billion a year earlier.

Impact on stocks 7

Cloud & Digital Infrastructure▼ · 4 stocks
AT&T Inc.
T
▼ NegativeCompetitionrelevance

SpaceX's entry into mobile service threatens AT&T's customer base.

T-Mobile US Inc
TMUS
▼ NegativeCompetitionrelevance

SpaceX's mobile service could lure customers away from T-Mobile.

Space Economy▲ · 3 stocks
EchoStar Corporation
ECHO
▲ PositiveCapitalrelevance

SpaceX acquired EchoStar's spectrum for $19.6B, providing a major capital inflow.

Theme Impact 2

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