By Kanchana Chakravarty<\/p>\n
June 3 (Reuters) – SpaceX will disrupt the $1.6 trillion U.S. communications industry as the Elon Musk-led company’s \u200csatellite broadband unit Starlink expands, Oppenheimer said in a \u200cnote on Wednesday, adding that legacy broadband providers like AT&T may be most \u200bat risk.<\/p>\n
The brokerage raised its estimate for 2035 space revenue to $800 billion from $500 billion earlier, ahead of the company’s highly anticipated IPO this month.<\/p>\n
\u2022 The expansion of Starlink is expected to further \u200cpressure cable firms, which \u2060are already losing subscribers.<\/p>\n
\u2022 Oppenheimer said companies such as AT&T, Verizon Communications and T-Mobile could see \u2060faster declines in subscribers and revenue going forward.<\/p>\n
\u2022 The brokerage expects Starlink to “entrench itself in many critical applications, reducing churn and increasing pricing \u200bpower.”<\/p>\n
\u2022 Oppenheimer \u200braised its 2030 estimates for \u200bU.S. broadband subscribers to \u200c15 million from 10 million earlier.<\/p>\n
\u2022 SpaceX’s rise could also tap into the half-a-trillion-dollar handset market as the company aims to replace smartphones, Oppenheimer said.<\/p>\n
\u2022 “Should SpaceX execute on its mission…it will be the modern-day East India Company of space, controlling routes, infrastructure, \u200cand commerce of an entire frontier \u200band giving it a quasi-sovereign reach, \u200bfar beyond that of \u200bany ordinary corporation,” Oppenheimer said.<\/p>\n
\u2022 The company is \u200cset to debut on the Nasdaq \u200bon June \u200b12 and is aiming to reach a $1.75 trillion valuation in the IPO, Reuters has reported.<\/p>\n
\u2022 SpaceX’s valuation is grounded \u200bin Starlink, which has \u200cover 10 million subscribers, and a launch business that \u200banalysts and investors say has transformed access to orbit.<\/p>\n
(Reporting \u200bby Kanchana Chakravarty in Bengaluru)<\/p>\n","protected":false},"excerpt":{"rendered":"By Kanchana Chakravarty June 3 (Reuters) – SpaceX will disrupt the $1.6 trillion U.S. communications industry as the…\n","protected":false},"author":2,"featured_media":712573,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[49,48,215413,258372,66,306,6888],"class_list":["post-712572","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-ca","tag-canada","tag-oppenheimer","tag-satellite-broadband","tag-science","tag-space","tag-spacex"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/712572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=712572"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/712572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/712573"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=712572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=712572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=712572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}