AT&T Shares Fall as Starlink Mobile Plan Challenges Cash-Flow Resilience

AT&T shares fell 2.0% after SpaceX detailed plans for a terrestrial Starlink mobile network, wiping approximately $3.3 billion off AT&T's market capitalization. This market reaction is primarily due to concerns over long-term competitive threats posed by Starlink's potential entry into the mobile service market, despite analysts noting significant execution challenges for SpaceX in building out a terrestrial network. AT&T maintains positive analyst ratings and strong cash-generating abilities, with its 2026 free-cash-flow outlook remaining unrevised.