Starlink Threat Spurs Telco Downgrades Across ASX

Investments banks are downgrading Telstra, and not because of the outage

Two major brokers have turned bearish on Australia’s biggest telco over fears that SpaceX will disrupt its business. It comes hot on the heels of a major network disruption.

Starlink Threat Spurs Telco Downgrades Across ASX

Investment banks Morgan Stanley and Jarden have downgraded Telstra and several other ASX-listed telecommunications companies, citing fears that Elon Musk’s SpaceX, particularly its Starlink satellite internet service, will attract customers from the concentrated industry. Telstra is Australia’s largest telecommunications provider, offering mobile, internet, and fixed-line services to millions nationwide. Analysts cut share price projections due …