SpaceX Mobile Push Sends AT&T Verizon and T-Mobile Stocks Down as Musk Sees Valuation Beyond Earth’s Economy

• SpaceX Starlink plans to expand mobile coverage, putting SpaceX stock, Verizon stock, AT&T stock, and T-Mobile stock in focus
• SpaceX agreed to acquire 800 MHz spectrum licenses from Grain Management, pending FCC approval
• Verizon stock and T-Mobile stock fell nearly 7% in after-hours trading, while AT&T stock dropped nearly 8%

SpaceX is moving closer to becoming a major network provider in the US, as the firm made its plan public in a fresh announcement. SpaceX announced that the company has agreed to acquire spectrum licenses in the 800 MHz range from investment firm Grain Management. This deal may end up helping SpaceX combine its satellite prowess with terrestrial wireless infrastructure to extend mobile coverage. The news has hit traditional network companies the most, with Verizon stock, AT&T stock, and T-Mobile stock falling in the process.

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SpaceX Starlink Moves Closer To Deliver Nationwide Mobile Network Coverage In The US

The latest announcement made by SpaceX covers up to 14 MHz of paired spectrum. SpaceX later shared that the low-band frequencies will help Starlink Mobile reach phones in places where satellite signals may have struggled. This development also includes delivering signals inside buildings. This transaction, however, is still pending approval from the Federal Communications Commission.

This move marks a change in how SpaceX is planning its future path. Starlink has earlier worked with existing mobile operators to provide satellite coverage in low-connectivity areas. However, with its proposed spectrum acquisition, the company may directly compete with its competitors. In the latest announcement, SpaceX CEO Elon Musk shared how the spectrum acquisition was “the last critical piece” needed for SpaceX to deliver complete phone coverage.

The Telecom Stocks Take a Massive Stock Hit

The SpaceX-Starlink announcement triggered a sharp reaction in the telecom stock arena. Stocks of major network providers in the US, including Verizon, AT&T, and T-Mobile, fell after the announcement.

In after-hours trading, Verizon stock and T-Mobile stock fell by nearly 7%. At the same time, AT&T stock declined by nearly 8%. Moreover, SpaceX stock recorded a modest surge in its price.

MarketCapOf’s comparison tool shows that Verizon stock (VZ) decreased by 0.93x, while AT&T stock (T) decreased by 0.97x between September 10 and October 9, 2026. The comparison highlights how both telecom stocks performed over the same period as SpaceX Starlink expanded its mobile ambitions. However, Starlink is part of SpaceX and does not have a separate publicly traded market cap. This comparison outlines the scale at which SpaceX’s telecom competitors are currently operating, highlighting the competitive nature of the sector.

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Elon Musk Envisions SpaceX’s Value Surpassing the Earth’s Economy

In his latest tweet, SpaceX CEO Elon Musk shared how he envisions SpaceX becoming worth “orders of magnitude” more than the current global economy.

“This will sound super crazy, but I see a path to SpaceX being worth orders of magnitude more than the current Earth economy.”

Musk’s new SpaceX Starlink plans may end up shaking the telecom sector if the company gains wider market access.

However, the company still requires regulatory approval for the spectrum deal and must build out the infrastructure needed to provide reliable mobile network services in the US.

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