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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InAmid technological shifts threatening traditional infrastructure, major US telecom carriers have faced intense selling pressure. Shares of Verizon and AT&T are heading toward their worst weekly performance in years due to mounting concerns over competition from SpaceX's Starlink service. According to reports, market panic ensued as investors weighed the growing competitive threat posed by satellite broadband services to established terrestrial networks.
This slump occurs as traditional telecom firms struggle to maintain profit margins, with prior data from peers like T-Mobile (TMUS) showing continued aggressive competition for subscribers. Per market data, this decline reflects a shift in investor perception of these formerly defensive stocks, especially as Starlink expands high-speed services to both rural and urban areas, potentially reducing reliance on traditional fiber and cable infrastructure.
Looking at price levels, VZ closed at $41.99 while T closed at $20.48 (at close July 1, 2026). Traders are currently monitoring technical support levels after VZ hit a daily low of $41.49 and T touched $20.29 during recent sessions. On the economic front, investors will watch for Fed Barkin's speech on June 28, 2026, which may provide signals regarding financing costs affecting the capital-intensive telecom sector.