AT&T could bounce after falling about 33% in roughly two months into a notable area, while it carries a 5.4% dividend yield. It is worth a trade over the next 3-6 months. x.com 

Verizon and AT&T generate plenty of cash flow and can slow their spending if needed. Cell phones are widely used, and the carriers' metrics look fine. x.com 

Starlink Mobile threatens US carriers' pricing economics even if it takes little market share. AT&T's lack of investment for the future makes its exposure worse. In Peter Adderton's scenario, a $5 monthly price cut on 250 million remaining connections would cost carriers $15 billion a year. x.com  x.com 

SpaceX's negative cost of capital gives it an advantage over AT&T and Verizon as it enters mobile telecom; neither incumbent has that funding position. x.com 

SpaceX buying Grain's spectrum is not bullish for AST SpaceMobile, with only secondary angles that read positively. SpaceX has spent roughly $26 billion on spectrum, so AT&T, Verizon and T-Mobile should spend to defend their moat instead of downplaying Musk; letting Grain buy spectrum only to flip it to SpaceX likely ranks among the most self-destructive management moves ever. AST's change-of-control filing came at an unusual time, likely ahead of this news, suggesting more than housekeeping. … Show more

AT&T faces downside risk from Starlink coming for cell plans; that competition looks set to leave a mark on the stock. x.com 

SpaceX's push to become a major mobile carrier makes a carrier-backed direct-to-cell oligopoly around AST SpaceMobile increasingly likely. Verizon, AT&T, T-Mobile and dozens of foreign operators have every incentive to preserve competition rather than hand a vertically integrated rival that much influence, and AST's wholesale model lets them extend networks, keep subscribers and share the economics. Execution and launch cadence remain critical, but the reward is massive. x.com  x.com  x.com  x.com  … Show more

SpaceX's growing connectivity profit improves its business case, but spending still leaves self-funded growth unproven. Starlink users rose from 12m to 13.6m and ARPU from $66 to $69; connectivity earned $2.4B of $2.8B operating profit. The $4.4B net profit includes non-operating and tax gains, while AI's operating margin is about 5.7%. Quarterly capex exceeded revenue at $19.6B, with $35-40B planned for Q4. Valuation still requires evidence of cash returns. x.com 

Debt, costly spectrum auctions and bad capital allocation make AT&T, Verizon and T-Mobile long-term laggards. They may rebound, but cannot keep pace with the S&P 500 or even weaker safety stocks. T-Mobile's Sprint-led growth is over with higher leverage; AT&T cut its dividend and spent heavily on Warner, while Verizon flip-flopped on fiber. High yields do not compensate. If forced to choose, AST SpaceMobile is probably the better gamble since legacy carriers have more incentive to support it. … Show more

AT&T, T-Mobile and Verizon endorsing satellite direct-to-device as real infrastructure validates and grows the market for AST SpaceMobile and Starlink. The three carriers agreed in principle to form a joint venture to eliminate US wireless dead zones by pooling spectrum and using direct-to-device satellites to fill the gaps. It is still only an agreement in principle, with regulatory questions ahead, but the theme is bullish. x.com