On August 5, AT&T Inc fell 3.02% in regular trading, trading at $22.67/share, with turnover of $286 million.

On the news front, SpaceX explicitly stated during its first earnings call since its June IPO that it plans to build Starlink Mobile into a full-fledged mobile operator. Company President Gwynne Shotwell named AT&T, Verizon, and T-Mobile as direct competitors, announcing plans to launch next-generation Starlink Mobile satellites in 2027 and begin offering upgraded services by year-end.

The announcement sent shockwaves through the US telecom sector, with Verizon falling 3.28% and Comcast declining 1.76%. While AT&T delivered strong Q2 results on July 22 — with adjusted EPS of $0.65 beating estimates of $0.59 and wireless subscriber additions of 432,000 exceeding expectations — and its CEO previously dismissed SpaceX as a competitive threat citing infrastructure advantages, the market clearly repriced satellite disruption risk following SpaceX's direct challenge.

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