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Analysts warned that SpaceX's expanding direct-to-device satellite and wireless ambitions could weigh on telecom-sector stocks. Bernstein analyst Laurent Yoon said he no longer recommends any major telecom stock, citing SpaceX as a looming threat to AT&T, while another analyst flagged that SpaceX's growing satellite capacity could delay AST SpaceMobile's commercial rollout due to satellite-launch challenges. The warnings reflect broader investor concern that SpaceX's scale and launch cadence could disrupt the competitive landscape for both traditional telecom carriers and satellite-connectivity startups.