Elon Musk's SpaceX just made a huge play to challenge the phone industry, and AT&T, T-Mobile, and Verizon stocks are getting crushed - Yahoo Finance
SpaceX has announced the acquisition of low-band spectrum, signaling a move to compete directly with major US wireless carriers. Following the news, shares of AT&T, T-Mobile, and Verizon experienced significant declines.
Why it matters
This move represents a major disruption to the telecommunications industry as satellite-based internet providers begin to challenge terrestrial mobile networks.
Elon Musk's SpaceX just made a huge play to challenge the phone industry, and AT&T, T-Mobile, and Verizon stocks are getting crushed Brian Sozzi · Executive Editor Sat, October 10, 2026 at 12:32 AM GMT+8 2 min read SPCX +1.25% T -9.81% TMUS -13.27% VZ -8.75% Elon Musk's SpaceX ( SPCX ) just sent a big message to the wireless industry: We want our piece of the subscriber pie.
Late Thursday, SpaceX said it will acquire a nationwide low-band spectrum portfolio. It positions Musk's satellite business Starlink to challenge legacy wireless giants across the US.
Shares of AT&T ( T ), T-Mobile ( TMUS ), and Verizon ( VZ ) tumbled on the news on Friday.
Concerns had already escalated across Wall Street that Starlink could disrupt legacy wireless operators like AT&T, Verizon, and T-Mobile by transitioning from a rural broadband service into a direct mobile competitor.
Also covering this story
5 other newsrooms covered this event. We read each version separately.
SpaceX Buys Wireless Spectrum For Starlink; Verizon, AT&T, T-Mobile Tumble
Starlink spectrum deal boosts Musk plan to beat AT&T, T-Mobile, and Verizon
SpaceX is buying nationwide low-band spectrum to become a major U.S. mobile carrier
AT&T, Verizon, and T-Mobile Are Dropping on Starlink Fears. Analysts Say Buy. - Barron's
SpaceX announces plan to become a ‘major mobile carrier’
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