The Simple Reason AT&T Isn't Too Concerned About SpaceX's Starlink Business
AT&T's CEO is skeptical about whether Starlink could meet the high expectations that customers have for internet service.
Overview
Shares of telecom company AT&T (NYSE:T) went into a tailspin earlier this year as fears mounted that Elon Musk's company, Space Exploration Technologies Corp (NASDAQ:SPCX), which often goes by just SpaceX, would wreak havoc on its business in the future.
Shortly after SpaceX went public, AT&T's stock ended up hitting a new 52-week low of just under $20. It's gone on to recover from that, however, with investors thinking twice about the risk that SpaceX poses. Competition, after all, is nothing new for AT&T, which has been around for well over a century.
Details
The risk that SpaceX's Starlink internet business poses to AT&T appears to have been exaggerated, and CEO John Stankey isn't all that worried.
Source
Originally published at www.fool.com.