AT&T shares tumble over 5% as Starlink Mobile competition sparks sell‑off
On October 21, 2026 AT&T Inc. (NYSE:T) fell about 5.6% after SpaceX announced acquisition of nationwide low‑band spectrum for a Starlink Mobile service. The stock slid from the mid‑$24s to roughly $22, prompting analysts to downgrade the rating and cut price targets. The telecom reported $10.87 billion of operating cash flow and $5.17 billion of free cash flow for the last quarter, while its long‑term debt sits near $134 billion.
Why it matters
Bernstein and Scotiabank lowered their price targets, citing the new satellite‑terrestrial competitor as a long‑term threat to AT&T’s wireless margins. The downgrade and target cuts may pressure the stock further as investors reassess valuation and debt risk.
Key facts
- 1AT&T stock fell 5.69% on the day. timothysykes.com
- 2AT&T stock fell 5.55% on the day. stockstotrade.com
- 3The share price moved from the mid‑$24s to about $22.12. stockstotrade.com
- 4Operating cash flow for the last quarter was $10.87 billion. stockstotrade.com
- 5Free cash flow for the last quarter was $5.17 billion. timothysykes.com
- 6Long‑term debt is approximately $134 billion and $134.6 billion. stockstotrade.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.