AT&T Wall Street growing threat

Oppenheimer downgraded AT&T stock on June 18, 2026, citing SpaceX's Starlink as a threat to AT&T's wireless business. This follows AT&T's CFO, Pascal Desroches, announcing his retirement on June 17, 2026. Despite AT&T's recent win with Rivian, Wall Street is increasingly concerned about SpaceX's satellite internet capabilities encroaching on AT&T's market.

The downgrade impacts the telecommunications sector, with AT&T's rivals, such as Verizon and T-Mobile, potentially facing similar pressures. SpaceX's Starlink could disrupt traditional wireless services, driving demand for satellite internet and pressuring incumbents' valuation.

Investors should watch SpaceX's Starlink launch schedule, AT&T's Q2 2026 earnings on July 25, and any regulatory developments around satellite internet services to gauge the evolving threat to AT&T and the broader telecommunications sector.