This Week in Connectivity
US markets were closed Friday, July 3 in observance of Independence Day, so this week’s numbers use Thursday’s close (July 2) measured against the prior Friday’s close (June 26). One company dominated the week: newly public SpaceX (SPCX). Reports that SpaceX intends to launch a Starlink branded retail mobile service, followed by a Wall Street Journal story about a handset style AI device that Elon Musk called “utterly false,” sent AT&T and Verizon toward their worst week in years even as SpaceX stock finished higher. Consolidation was the second big story: Rocket Lab agreed to acquire Iridium for $8 billion, and reports circulated of Amazon deepening its stake in Globalstar. Add Verizon’s removal from the Dow Jones Industrial Average, a $3.5 billion FCC spectrum auction, and a 19 percent surge in AST SpaceMobile, and it was one of the busiest weeks of the year for connectivity investors.
Performance: Week Ending July 3, 2026
| Company (Ticker) | Latest Price | Weekly Change |
|---|---|---|
| US Carriers | ||
| AT&T (T) | $20.58 | down about 6% (approx.) |
| Verizon (VZ) | $42.56 | down 8.6% |
| T-Mobile (TMUS) | $177.52 (approx.) | down about 3.3% |
| Router & Equipment Makers | ||
| Ericsson (ERIC), Cradlepoint parent | $10.79 | modestly lower (approx.); down about 21% for June |
| Semtech (SMTC), Sierra Wireless parent | $138.26 (approx.) | down about 14% (approx.) |
| Digi International (DGII) | $72.15 | down about 3% (approx.) |
| Netgear (NTGR) | $23.20 | roughly flat (approx.) |
| Inseego (INSG) | $10.33 | little changed (approx.) |
| Cisco (CSCO), Meraki parent | $112.68 | down 1.0% |
| Plover Bay (1523.HK), Peplink parent | HK$7.90 | down 7.0% |
| Satellite & Emerging | ||
| AST SpaceMobile (ASTS) | $85.13 | up 19.1% |
| Iridium (IRDM) | about $52.50 (approx.) | up about 20% on the Rocket Lab deal |
| Globalstar (GSAT) | $81.29 | roughly flat (approx.) |
| EchoStar (ECHO, formerly SATS) | $101.33 (approx.) | roughly flat (approx.) |
| Viasat (VSAT) | $83.44 | down about 7% (approx.) |
| SpaceX (SPCX) | $162.00 | up 5.7% |
Prices are July 2, 2026 closing quotes unless noted. Because Friday was a market holiday, weekly changes compare July 2 with June 26. Items marked approx. reflect the most recent available quotes and estimates rather than exact close-to-close figures.
Stories Behind the Moves
US Carriers. MarketWatch called it the carriers’ worst week in years. The trigger was a June 26 report that SpaceX president Gwynne Shotwell told IPO roadshow investors the company plans a Starlink branded retail mobile service for US consumers, reframing SpaceX from partner to direct competitor. Verizon absorbed additional headlines: Alphabet replaced it in the Dow effective June 29, it announced a 50:50 international enterprise joint venture with BT, it disclosed a $350 million to $450 million severance charge, and it spent $3.2 billion in the FCC’s $3.5 billion AWS-3 spectrum auction, where AT&T, T-Mobile, and SpaceX were also winners. T-Mobile held up best of the three; UBS trimmed its price target to $255 ahead of the July 23 Q2 call, and TD Cowen even floated SpaceX as a possible T-Mobile acquirer.
Router & Equipment Makers. Ericsson, Cradlepoint’s parent, is in a leadership transition, with Per Narvinger set to succeed Borje Ekholm as CEO on September 30 and Q2 results due July 14. Semtech, parent of Sierra Wireless, gave back a large piece of its June data center rally in a sharp midweek selloff that coincided with a disclosed insider sale by its CEO, even as analysts stayed constructive on its data center analog portfolio. Cisco slid 3.7 percent Thursday but finished only about 1 percent lower for the week after KeyBanc raised its target to $130; the Supreme Court also dismissed a long running suit against the company. Digi drifted a few percent lower, while Netgear and Inseego were little changed; Inseego’s acquisition of Nokia’s fixed wireless access business remains on track to close in the fall. Peplink parent Plover Bay fell 7 percent in Hong Kong trading ahead of its July 23 earnings report.
Satellite & Emerging. AST SpaceMobile was the week’s standout, up 19.1 percent after announcing BlueBirds 11, 12, and 13 will launch in the first half of August and amid reports of a Rakuten joint venture, though Barclays cut its target to $60. Rocket Lab agreed to acquire Iridium for $54 per share in an $8 billion cash and stock deal, sending IRDM up 25 percent on Monday (CNBC). Globalstar was steady amid reports of a planned Amazon stake valued at $11.6 billion. EchoStar, which began trading under its new ECHO ticker on June 24, was roughly flat, while Viasat gave back about 7 percent of its recent run. SpaceX itself finished up 5.7 percent for the week despite a 7.8 percent drop Wednesday after Musk denied the WSJ AI device report; the stock joins the Nasdaq-100 next week.
Starlink and Amazon Leo. Starlink is reportedly discounting service in the Memphis area, and the Wall Street Journal examined whether its satellite network can eventually challenge carriers in urban markets, where capacity remains the key hurdle. On the Amazon Leo side, a United Launch Alliance rocket carried 29 more satellites to orbit, and Bloomberg reports Amazon expects to begin offering internet service later this year.
5Gstore Take
A volatile week for telecom stocks does not change what businesses and homes need on the ground: reliable, redundant connectivity. If anything, the SpaceX headlines underline where the market is going, toward a mix of terrestrial 5G and satellite that no single provider controls. That is exactly the architecture we help customers build every day with multi-WAN routers and failover from Peplink, Cradlepoint, Sierra Wireless/Semtech, Inseego, Digi, Teltonika, and Katalyst. Carrier competition, satellite entrants, and industry consolidation all tend to push service pricing down and coverage up, which is good news for anyone running failover or primary cellular internet. If you want help pairing the right router with the right carrier plan, or adding satellite backup to your network, contact our team for a free consultation.
FAQ
Why do the prices show July 2 instead of July 3? US stock markets were closed Friday, July 3 because Independence Day falls on a Saturday this year, so July 2 was the final trading session of the week.
Is SpaceX really building a phone? The Wall Street Journal reported SpaceX showed investors a handset style AI device prototype, which Elon Musk publicly denied. Separately, reports indicate SpaceX plans a Starlink branded retail mobile service, which is the development pressuring carrier stocks.
Does the Rocket Lab and Iridium deal change anything for Iridium users? Not immediately. The $8 billion acquisition is expected to close in mid-2027, and Iridium service continues as normal in the meantime.
Should carrier stock swings worry me as an internet customer? Not in the near term. AT&T, Verizon, and T-Mobile networks are unaffected by share price moves, though longer term competition from satellite could mean better pricing and more options.
Disclaimer
This post is informational market commentary from 5Gstore, not investment advice. We are not financial advisors, and nothing here should be used as the basis for buying or selling any security. Prices reflect the latest available quotes at the time of writing, primarily July 2, 2026 closes, and figures marked approximate could not be pinned to exact closing values. Always do your own research or consult a licensed financial professional before making investment decisions.
About the Author
Michael Ginsberg is the founder of 5Gstore.com, a trusted source for cellular routers and failover networking solutions since 2005. With a background in software and networking dating back to 1988, he writes about cellular connectivity, IoT infrastructure, network security, and fleet management. Connect with Michael on LinkedIn or reach the 5Gstore team through our contact page.
