T-Mobile Shares Decline Amid Reports of SpaceX Cellular Market Entry

T-Mobile's shares dropped by 4.3% in premarket trading on October 23, 2026, due to reports of SpaceX potentially entering the cellular market by leasing or acquiring 80,000 cell sites in the U.S. to enhance its Starlink service. The news has raised concerns about increased competition for major carriers like T-Mobile, Verizon, and AT&T. Crown Castle, a key tower operator, acknowledged ongoing discussions with industry players during its earnings call, further indicating the seriousness of the situation.