Verizon Communications Inc (NYSE:VZ) and AT&T Inc (NYSE:T) shares are falling Monday. There are reports of new satellite connectivity headlines that could reshape the U.S. wireless market. Here’s what you should know.
Verizon Communications shares are sliding. What’s pressuring VZ stock?
Starlink Mobile Plans Pressure Traditional Carriers
SpaceX Exploration Technologies Corp (NASDAQ:SPCX) is considering a direct‑to‑consumer Starlink mobile service in the United States. The Financial Times reported that during its IPO roadshow, SpaceX executives told investors the company may launch a retail mobile product that would sell phone plans directly to customers, putting Starlink in direct competition with Verizon and AT&T.
Starlink has historically partnered with carriers such as T‑Mobile to supplement rural coverage. A retail mobile offering would be one of SpaceX’s largest commercial expansions, giving it access to a far larger market than satellite broadband alone. The company already serves more than 10.3 million customers worldwide and has spent $17 billion on wireless spectrum licenses, a move analysts viewed as groundwork for a future mobile network. Shares of T‑Mobile US Inc (NASDAQ:TMUS) were also lower at last check on Monday.
