Terrestrial Skepticism Prevails

AT&T's argument gains traction with investors, carriers, and regulators: direct-to-cell satellite service is useful for gaps but not a scalable substitute for terrestrial wireless networks. SpaceX and T-Mobile continue service launches, but the market prices the offering as a supplemental feature rather than a disruptive replacement for AT&T and Verizon.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.