AT&T stock drops to 52‑week low amid SpaceX/Starlink competition concerns

AT&T shares fell to a fresh 52‑week low of about $19.89, briefly recovering to close slightly higher after a sharp week‑long decline of more than 9%, the steepest weekly drop in four years. The slide was part of a broader sell‑off that also pushed Mattel and Hertz to annual lows.

Analysts linked the pressure to reports that SpaceX’s Starlink is planning a direct‑to‑consumer mobile service and may partner with Charter Communications, raising fears that the satellite broadband provider could erode traditional carrier revenues. Ongoing market caution and a $1.6 trillion communications industry outlook added to the overhang, leaving AT&T down over 16% year‑to‑date as investors await its earnings report scheduled for July 22.