---
title: "Weekly Recap | IYZ.US -1.82%, SpaceX entry weighs on telecoms"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/302942232.md"
description: "iShares US Telecommunications (IYZ.US) fell 1.82% this week to close at $38.39, underperforming the S&P 500 by about 1.35 percentage points. The week unfolded as a pullback after an early advance: the ETF opened Monday near $39.56, touched its weekly high of $39.70 on Wednesday, then slid over the final two sessions to a low of $37.98 on Friday before a modest stabilisation. The close sits near the low end of the 60-day range and well below the 20-day moving average of $41.10."
datetime: "2026-10-24T04:29:48.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/302942232.md)
  - [en](https://longbridge.com/en/news/302942232.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/302942232.md)
generator: "portal-rs"
---

# Weekly Recap | IYZ.US -1.82%, SpaceX entry weighs on telecoms

## The Week

iShares US Telecommunications (IYZ.US) fell 1.82% this week to close at $38.39, underperforming the S&P 500 by about 1.35 percentage points. The week unfolded as a pullback after an early advance: the ETF opened Monday near $39.56, touched its weekly high of $39.70 on Wednesday, then slid over the final two sessions to a low of $37.98 on Friday before a modest stabilisation. The close sits near the low end of the 60-day range and well below the 20-day moving average of $41.10.

## Sector News

The telecom sector’s dominant story was SpaceX’s reported push into mobile connectivity. Bloomberg reported that SpaceX is seeking access to 80,000 US cell sites to build a wireless network, which sent T-Mobile, Verizon, and AT&T shares lower after hours. T-Mobile fell as much as nearly 7% to a 52-week low, while Verizon shed more than 3% in after-hours trading. Meanwhile, AT&T beat third-quarter earnings estimates and lifted full-year guidance, briefly gaining nearly 4% before reversing as investors digested a 90% drop in quarterly net profit and some broker target-price cuts. Comcast delivered a mixed report: broadband subscriber losses deepened, but Peacock turned profitable and free cash flow reached $4.2 billion. Broader sentiment was also dented by AI spending concerns that triggered a tech sell-off.

## The Week Ahead

On the macro front, next Tuesday brings durable goods orders, FHFA house prices, new home sales, and consumer confidence. Durable goods orders are expected to rise 1.5% after a prior reading of -0.1%, and new home sales are forecast at 0.65m units versus 0.684m previously. Verizon reports third-quarter results next week, and options traders are pricing a post-earnings move of roughly 5%. Attention will fall on how Verizon responds to SpaceX competition concerns and how the sector reacts to potential FCC rule changes on satellite-to-phone connectivity.

## In Short

IYZ.US’s decline tracks a telecom sector caught between competitive disruption and selective earnings strength: SpaceX’s wireless ambitions pressured major constituents, while AT&T’s guidance raise offered partial support. On valuation, the ETF trades at roughly 1.8x book, with negative earnings making P/E less informative. Latest-session fund flow shows large-lot money on the sell side, offset by more active small and medium orders. The coming week hinges on Verizon’s earnings and whether FCC satellite-phone rule changes add fresh pressure or relief to the group.

*This article is generated by LongbridgeAI from market data, for information only and not investment advice.*

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**