Wells Fargo Analyst: SpaceX Wireless Will Crush Carriers While Tower REITs “Quietly” Profit

Impact · against what's priced in

The news is largely neutral for T-Mobile and SpaceX as their prices already bake in the satellite disruption and connectivity growth. The main signal is the reinforcement of the 'cable-wins' trend for Charter and the potential for Tower REITs to capture rent from a capital-light entrant.

TMUS−0.10

Already priced in

The price assumes

the risk that SpaceX's direct-to-device mobile service and Amazon's satellite network will erode T-Mobile's industry-leading growth and margins