US Stock Movement: AT&T Shares Plunge on October 23; Starlink Becomes Fourth Largest Carrier and Investment Banks Lower Target Price

AT&T October 23 Sharp Decline Analysis

Keywords: Starlink builds the fourth largest carrier, investment banks lower target price

1. On October 22, media reported that SpaceX is negotiating to access at least 80,000 U.S. cellular base stations, aiming to build the fourth national wireless network. On October 23 pre-market, AT&T, Verizon, and T-Mobile all declined in tandem, as traditional carriers face pricing and market share pressure from a new competitor.

2. On October 23, several investment banks updated their ratings on AT&T. Morgan Stanley lowered its target price from $28 to $25, while JPMorgan adjusted from $33 to $31, both maintaining buy/overweight ratings.

(Disclaimer: This content is generated by AI technology based on publicly available information for reference only and does not constitute investment advice.)