AT&T Hits 52-Week Low as SpaceX Starlink Enters Mobile Market, Telecom Sector Reels

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2026-06-29 18:52:02

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AT&T's stock plummeted to a 52-week low of $21.29, shedding 5% amid a broader telecom selloff. The decline reflects mounting pressure as SpaceX confirmed plans to launch a standalone Starlink mobile service, directly challenging AT&T, Verizon, and T-Mobile.

Verizon dropped 7%, while T-Mobile fell 6%, extending its yearly loss to 28%. Meanwhile, Comcast surged 7.2% after announcing a spin-off of NBCUniversal and Sky, sharpening its focus on broadband—a move seen as a competitive threat to legacy carriers.

Chart analysts warn that a sustained close below $21.29 could signal further downside for AT&T, which has already lost 26% over the past year. SpaceX's entry into the mobile market, backed by AWS-3 spectrum holdings, adds another layer of disruption to an already volatile sector.

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