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SAN FRANCISCO, Calif. — If you're thinking SpaceX's (SPCX) Starlink is going to run roughshod over well-established wireless operators such as AT&T (T), T-Mobile (TMUS), and Verizon (VZ), not so fast.
"It [Starlink] doesn't get through buildings very well," AT&T CEO John Stankey told Yahoo Finance from the Goldman Sachs Communacopia & Tech Conference (video above). "It does very well [with a] line of sight. If you have a lower-band spectrum, then it will have some decent penetration into some buildings. But it's not going to penetrate the skin of a high-rise. It's not going to penetrate a stadium where people are congregated to watch a World Cup game and be able to have the social experiences that they demand in those circumstances."
"I think customers have a pretty high bar of how networks have to perform," Stankey added. "And I think we're uniquely positioned to continue to meet those expectations."
Concerns are escalating across Wall Street that Elon Musk's Starlink could disrupt legacy wireless operators like AT&T, Verizon, and T-Mobile by transitioning from a rural broadband service into a direct mobile competitor.