The Simple Reason AT&T Isn't Too Concerned About SpaceX's Starlink Business

Shares of telecom company AT&T (NYSE:T) went into a tailspin earlier this year as fears mounted that Elon Musk's company, Space Exploration Technologies Corp (NASDAQ:SPCX), which often goes by just SpaceX, would wreak havoc on its business in the future.

Shortly after SpaceX went public, AT&T's stock ended up hitting a new 52-week low of just under $20. It's gone on to recover from that, however, with investors thinking twice about the risk that SpaceX poses. Competition, after all, is nothing new for AT&T, which has been around for well over a century.

The risk that SpaceX's Starlink internet business poses to AT&T appears to have been exaggerated, and CEO John Stankey isn't all that worried.

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