AT&T Stock: Cratering On The Amazon Wireless Report

Summary:

  • Amazon.com, Inc. is reportedly in talks with leading telcos to offer mobile services to its Prime members, potentially intensifying competition for AT&T Inc., Verizon Communications Inc., and T-Mobile US, Inc.
  • Amazon is expected to enter as a mobile virtual network operator, possibly offering low-cost or free nationwide mobile phone service.
  • AT&T Inc. investors should brace for more pain, as the current pricing dynamics could change depending on the terms of the deal with Amazon.

AT&T Store in New York City

Anne Czichos/iStock Editorial via Getty Images

AT&T Inc. (NYSE:T) investors were hammered today, as Amazon.com, Inc. (AMZN) was reported to be looking to offer mobile services to Prime members. Bloomberg reported that Amazon and the leading Telcos

T price chart (weekly)

T price chart (weekly) (TradingView)


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