T-Mobile stock price continued its strong sell-off this year, reaching its lowest level since November 2023. TMUS plunged to $146.93, down by over 46% from its highest point in 2025. This retreat has pushed its market capitalization from $309 billion to $157 billion, with focus being the upcoming earnings.
T-Mobile stock has dropped amid SpaceX fears
T-Mobile and other telecommunications companies have remained under pressure in the past few years. This retreat accelerated after the SpaceX, acquired a low-band spectrum license, a move that will see it start offering mobile services to Americans. It is estimated that the company paid $8 billion for the spectrum.
SpaceX has also started talking with companies that provide cell tower services, including popular names like American Tower, Vertical Bridge, and Crown Castle. This is an important move as Tesla will need to use these cellular towers to beam its network in urban areas.
Analysts believe that SpaceX can become a major competitor to T-Mobile and other companies in the industry. It can also push them to lower their costs, which will affect its margins over time.
History, however, the initial reaction whenever there is a major competition threat is usually an overreaction. We saw that with Netflix, which lagged the market when companies like Disney, Comcast, Apple, and Warner were rushing to create its competitors. Disney maintains a big market share in the industry today.
T-Mobile to publish its earnings report
The next important catalyst for T-Mobile stock is the upcoming earnings report, which comes out on Wednesday. This report will provide more color on its business during the quarter.
The last report showed that T-Mobile said that its service revenue rose by 9% in the second quarter to $19 billion. Its postpaid revenue soared by 13% to $15.9 billion with the net income rising to $3.2 billion.
T-Mobile’s stock dropped after that report because its postpaid customers continued weakening in the last quarter. It added 277,000 postpaid customers, down from 318,000 in the same period last year. Its churn also increased to 0.99% from 0.92% in the same period last year.
Analysts expect the upcoming earnings report to show that its revenue jumped by 5.38% to $23.14 billion. Its EPS is expected to move from $2.41 to $2.91.
The options market suggest that the stock will likely rebound after its earnings report. Its put/call volume ratio stands at 0.53, suggesting that it has more calls than puts. Most of the calls are at $150, slightly higher than the current $146.
T-Mobile stock technical analysis
TMUS stock chart | Source: TradingView
The daily chart shows that T-Mobile shares have remained under pressure in the past two years. After peaking at $276 early last year, the stock has dropped to the current $146.
The stock formed a descending channel and has already moved below its lower side. It has also remained below the 50-day and 100-day Exponential Moving Averages (EMA), a sign that bears remain in the drivers seat for now.
The most likely scenario is where the stock bounces back after earnings. If this happens, it may move back above $150. A move above that level will point to more gains, potentially to the psychological level of $160.
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