Starlink Wireless Push Sinks AT&T 6% as Musk Eyes Telecom Market
SPCX sits 52% above its 52-week low of $104.83.
Summary
SpaceX used yesterday's earnings call to reaffirm plans to push Starlink beyond broadband into wireless, with Starlink Mobile targeting an early 2028 launch, per President Gwynne Shotwell. Musk told analysts the business could eventually generate several hundred billion dollars in revenue a year. The market read it as a direct threat to incumbents: AT&T fell 6% premarket despite a beat, and Verizon and T-Mobile are also lower. This follows the Q3 8-K filed last night showing revenue of $14.6B, up 161% year-over-year, and net income of $4.4B — the wireless expansion is the forward-looking piece traders are now pricing into telecom names. Watch the early 2028 launch timeline and any further detail SpaceX discloses on Starlink Mobile economics.
At the time of this announcement, SPCX was trading at $159.76 on NASDAQ in the Technology sector, with a market capitalization of approximately $2T. The 52-week trading range was $104.83 to $225.64. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.