AT&T Tumbles on SpaceX Panic

AT&T is facing a triple threat: a sharp stock selloff sparked by SpaceX’s satellite ambitions, a spending squeeze as it pours billions into fiber and 5G upgrades, and a regulatory battle in California over retiring copper landlines. The stakes are high—investors are jittery, the company’s $160 billion market cap has taken a hit, and its ability to meet bold growth and cash flow targets for 2026 and beyond now depends on disciplined spending and smart execution.

But here’s the catch: while AT&T is pushing fiber and wireless bundles to lock in customers, rivals aren’t standing still. Comcast and Charter are fast-tracking DOCSIS 4.0 upgrades for speedier broadband, and T-Mobile is buying up fiber networks to expand its own reach. At the same time, California regulators are pushing back on AT&T’s copper exit, warning that wireless alternatives might leave rural and low-income customers behind when it comes to reliable indoor coverage and 911 access. If regulators win, AT&T could face cost overruns and delayed returns on its massive network investments.

Featuring reporting and analysis from MarketWatch, Barron’s, StockStory, Zacks, The Globe and Mail, and JD Power.

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