AT&T (T) News Today

AT&T Inc. (NYSE: T) shares decreased sharply as investors reacted to intensifying competition from SpaceX, though the company also announced fiber-expansion and iPhone promotions that could support longer-term growth.

• Positive Sentiment: AT&T’s new fiber joint venture with Global Infrastructure Partners and CPP Investments is expected to expand the platform to more than 60 million locations by 2030. AT&T will retain 50% ownership, while proceeds are expected to support debt reduction, network investment and shareholder returns. AT&T Fiber Venture
• Positive Sentiment: The company introduced promotional pricing on the new iPhone Duo, offering eligible customers up to $1,200 off with a trade-in. The promotion may help AT&T compete for wireless subscribers and support device-related sales. AT&T iPhone Promotion
• Neutral Sentiment: AT&T’s dividend timing, elevated Treasury yields and the absence of a new operating update before third-quarter earnings on October 21 may be contributing to broader sentiment and trading volatility. The company has reiterated its financial outlook. AT&T Trading Factors
• Negative Sentiment: SpaceX agreed to acquire nationwide low-band mobile spectrum for its Starlink Mobile service, giving it a more direct path to compete with AT&T, Verizon and T-Mobile. Investors fear the satellite-based offering could pressure wireless pricing, subscriber growth and industry margins. SpaceX Spectrum Acquisition
• Negative Sentiment: Scotiabank lowered its AT&T price target from $27.50 to $26.50 and maintained a “sector perform” rating, reflecting more limited near-term upside amid the competitive concerns. AT&T also faces a $177 million data-breach settlement approved for customer claims. Starlink Mobile Competition