AST SpaceMobile, Inc.

Key Points
Alphabet has significant investments in AST Spacemobile, Planet Labs, and Metsera.
All three stocks have soared by at least 120% so far in 2025.
Wall Street analysts especially like one of these hot growth stocks.
Some follow famous investors to get ideas about which stocks to buy. However, another strategy is to check out which stocks successful companies are investing in. You might be surprised how well some of their investments perform.
Take Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), for example. Google's parent has $754 million invested in three hot growth stocks that have skyrocketed 120% or more so far this year.
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Alphabet's big winners
Alphabet's biggest equity holding is in AST Spacemobile (NASDAQ: ASTS). As of June 30, 2025, the company's stake in AST Spacemobile was worth roughly $418 million and made up 19.6% of Alphabet's investment portfolio.
AST Spacemobile is developing the first space-based cellular broadband network that can be directly accessed by smartphones. It plans to deploy nationwide intermittent service in the U.S. by year-end and expand into Canada, Japan, and the U.K. in early 2026. Investors are already excited about AST Spacemobile's prospects: The space stock has nearly quadrupled year to date.
Alphabet has a $195 million stake in Planet Labs (NYSE: PL). Founded by three NASA scientists, Planet Labs provides satellite imagery and geospatial solutions used by agriculture, finance, and forestry companies as well as government agencies. Its share price has jumped more than 120% so far in 2025.
Another $141 million of Alphabet's money is invested in clinical-stage biotech company Metsera (NASDAQ: MTSR). The small drugmaker has three pipeline programs targeting obesity in phase 1 and phase 2 clinical testing. Metsera's stock has nearly tripled year to date.
What Wall Street thinks
Wall Street isn't gung-ho about one of Alphabet's hot growth stocks. Only four of the 10 analysts surveyed by S&P Global (NYSE: SPGI) in October rated AST Spacemobile as a "buy." Two of the analysts recommended selling the stock. Furthermore, the average 12-month price target is roughly 19% below the current share price.
Analysts are somewhat more bullish about Metsera. Two of the four analysts surveyed by S&P Global this month rated the stock as a "buy." The other two analysts recommended holding Metsera. However, the consensus price target reflects an upside potential over the next 12 months of less than 6%.
That leaves Planet Labs as the hot stock owned by Alphabet that Wall Street likes the most. Five of the nine analysts surveyed by S&P Global rated the stock as a "buy." Another analyst gave Planet Labs a "strong buy" rating. The three outliers recommended holding the stock. In addition, the average 12-month price target for Planet Labs is more than 12% above the current share price.
Granted, a 12% or so gain over the next year pales in comparison with the huge return Planet Lab has delivered so far in 2025. However, the consensus price target for the stock nonetheless shows that Wall Street believes it has more room to run.
Should you buy Planet Labs stock, too?
At first glance, Planet Labs might not seem like a great stock to buy despite Wall Street's approval. The company remains unprofitable, posting a net loss of $22.6 million in the second quarter of 2025. Its valuation looks steep, too, with a price-to-sales ratio of 16.9. Planet's year-over-year revenue growth of 20% in Q2 doesn't appear to justify this premium.
There's more to the story with this growth stock, though. Planet Labs' backlog in Q2 soared 245% year over year to $736.1 million, roughly 2.6 times greater than the midpoint of the company's revenue guidance for 2025.
Planet recently closed major deals with the German government, NATO, and the U.S. Navy. Management says it has more than 20 new opportunities with an average estimated total contract value per customer of $170 million.
Risk-averse investors will probably want to look elsewhere. However, aggressive long-term investors could agree with Alphabet that Planet Labs is a worthy pick.
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Keith Speights has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet and S&P Global. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Google Parent Alphabet Has $754 Million Invested in These 3 Hot Growth Stocks. Here's the 1 Wall Street Likes the Most.

Key Points
AST SpaceMobile stock fell after the company announced plans for a new round of fundraising.
The company could wind up issuing up to $1 billion in new convertible debt notes.
AST SpaceMobile (NASDAQ: ASTS) stock lost ground over the last week of trading even though the broader market saw bullish momentum. The satellite communications company's share price ended the week's session down 11.7% from the previous week's market close. Over the same stretch, the S&P 500 gained 1.9%, and the Nasdaq Composite climbed 2.3%.
On Oct. 21, AST announced that it was considering raising funds through a new private stock sale. The threat of stock dilution and new debt sent the company's share price tumbling.
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AST stock sinks on dilution concerns
AST published a press release last Tuesday announcing plans to sell $850 million in convertible senior notes to raise new funding. The notes would come due in 2036 and would be redeemable for shares of the company's common stock. Additionally, AST said that the proposed deal would allow the group of initial convertible note purchasers to buy an extra $150 million in notes within 13 days after the first round of the notes being issued.
AST then confirmed it was moving forward with the fundraising move. While a new injection of capital would help the company fund its operations and growth bets, some existing shareholders understandably weren't thrilled about the potential for a combination of new debt and share dilution.
What's next for AST SpaceMobile?
AST SpaceMobile has a promising position in the commercialization of space and has seen explosive valuation growth this year as excitement around the trend has skyrocketed. Despite a valuation drawdown over the last week of trading, AST's share price is up 249% across 2025's trading.
With new use cases for the private sector, military applications, and other public-sector use cases, AST could have a very strong growth trajectory over the long term. On the other hand, the stock is already valued at approximately 336.5 times this year's expected sales and comes with a high degree of risk.
Should you invest $1,000 in AST SpaceMobile right now?
Before you buy stock in AST SpaceMobile, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and AST SpaceMobile wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,748!*
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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why AST SpaceMobile Stock Sank This Week

Key Points
AST SpaceMobile is in the midst of creating a satellite-based communication system.
It's partnering with cellular providers, giving it an installed base of potential customers.
However, the company is still building out its network, which is a very costly affair.
AST SpaceMobile (NASDAQ: ASTS) shares have rocketed higher by more than 1,000% over the past three years. Much of that gain has come since mid-2024, when the company's prospects for actually turning its big idea into a reality started to look more feasible.
But there's one small problem -- the company still doesn't have a fully functional service. Here's why you might want to be cautious with AST SpaceMobile.
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Building a millionaire nest egg requires taking some risks
You can't simply hoard a pile of cash and hope that you'll build a seven-figure nest egg. Most people will need to take some risks, which will likely mean investing in stocks. This is where things get complicated, because the quickest way to build wealth is to pick one growth stock that goes up a lot. AST SpaceMobile's massive price advance over the past three years is an example.
Of course, the quickest way to lose a lot of money is to buy a single stock that goes down a lot. This happens with great regularity on Wall Street, too. You'll probably have to cut the middle and create a diversified portfolio that includes safer investments along with riskier ones, like AST SpaceMobile. But why is AST SpaceMobile so risky?
The company is attempting to build a space-based mobile broadband network. Even better, that network is going to interact with current cellphones, so there's no need for end users to upgrade their tech. And AST SpaceMobile has chosen to partner with existing telecom providers, so it has access to their capital and their customers.
This looks like a pretty solid plan. And now that AST SpaceMobile is launching satellites into orbit, it seems highly likely that it will be able to create the business management has long dreamed of creating.
A lot of good news has been priced in
There's just one small wrinkle -- AST SpaceMobile is still just a money-losing start-up. Looking at the income statement, in the first half of 2025, the company brought in revenue of around $1.9 million while it spent $137.6 million. While revenue is likely to go up as more satellites get launched, costs aren't going to suddenly go away. The company hopes to put between 45 and 60 satellites into orbit between 2025 and 2026.
Each satellite costs money to build, and each launch costs money, too. AST SpaceMobile is not going to suddenly turn profitable anytime soon. In fact, the price-to-sales ratio here is a shocking 3,290 or so. That is not a typo. For reference, the S&P 500 index, which is hovering near all-time highs, has a P/S ratio of around 3.4 (which is far above the historical norm). Investors are pricing in a huge amount of good news into AST SpaceMobile's stock price right now.
AST SpaceMobile has a solid business plan. It is executing well on its plan. But with Wall Street setting such high expectations, the stock could still flame out. That's the risk you take when you buy a story stock like AST SpaceMobile. And if you do buy it, it should be one part of a broader portfolio that also includes more conservative investments.
AST SpaceMobile has potential, but do not bet the house
There's no question that AST SpaceMobile is doing something exciting (it is launching satellites into space, after all). But given the huge price advance and hefty valuation being placed on what is still a money-losing business, investors should probably tread with caution. It could live up to all of the hype, but if you buy the stock, it should probably only be a small part of your portfolio.
In order for the stock to keep rising, it looks like everything might have to break AST SpaceMobile's way.
Should you invest $1,000 in AST SpaceMobile right now?
Before you buy stock in AST SpaceMobile, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and AST SpaceMobile wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,748!*
Now, it’s worth noting Stock Advisor’s total average return is 1,033% — a market-crushing outperformance compared to 193% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 20, 2025
Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is AST SpaceMobile Stock Your Ticket to Becoming a Millionaire?

In the latest trading session, AST SpaceMobile, Inc. (ASTS) closed at $73.70, marking a +2.76% move from the previous day. This move outpaced the S&P 500's daily gain of 0.79%. Elsewhere, the Dow gained 1.01%, while the tech-heavy Nasdaq added 1.15%.
Shares of the company witnessed a gain of 45.21% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.2%, and the S&P 500's gain of 1.27%.
The investment community will be closely monitoring the performance of AST SpaceMobile, Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.18, up 25% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $20.74 million, indicating a 1785.45% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.98 per share and a revenue of $53.9 million, representing changes of -48.48% and +1119.99%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for AST SpaceMobile, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. AST SpaceMobile, Inc. is currently a Zacks Rank #3 (Hold).
The Wireless Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 18, placing it within the top 8% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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AST SpaceMobile, Inc. (ASTS) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

AST SpaceMobile, Inc. (ASTS) Outpaces Stock Market Gains: What You Should Know

Below is Validea's guru fundamental report for AST SPACEMOBILE INC (ASTS). Of the 22 guru strategies we follow, ASTS rates highest using our Small-Cap Growth Investor model based on the published strategy of Motley Fool. This strategy looks for small cap growth stocks with solid fundamentals and strong price performance.
AST SPACEMOBILE INC (ASTS) is a large-cap growth stock in the Communications Services industry. The rating using this strategy is 52% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of AST SPACEMOBILE INC
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About Motley Fool: Brothers David and Tom Gardner often wear funny hats in public appearances, but they're hardly fools -- at least not the kind whose advice you should readily dismiss. The Gardners are the founders of the popular Motley Fool web site, which offers frank and often irreverent commentary on investing, the stock market, and personal finance. The Gardners' "Fool" really is a multi-media endeavor, offering not only its web content but also several books written by the brothers, a weekly syndicated newspaper column, and subscription newsletter services.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Guru Fundamental Report for ASTS

AT&T Inc. T and AST SpaceMobile, Inc. ASTS are two major players in the mobile and wireless-connectivity universe with key expertise in their respective domains. Operating as one of the largest wireless service providers in North America, AT&T offers a vast array of communication and business solutions that include wireless, local exchange, long-distance, data/broadband and Internet, video, managed networking, wholesale and cloud-based services.
AST SpaceMobile is building the world’s first and only global cellular broadband network in space, accessible directly by standard smartphones (4G-LTE/5G devices) for commercial and government use, leveraging its extensive Intellectual Property and patent portfolio. The SpaceMobile Service is provided by a constellation of high-powered, large phased-array satellites in low Earth orbit (LEO) using low-band and mid-band spectrums controlled by Mobile Network Operators (MNOs) in areas lacking terrestrial network coverage.
Let us delve a little deeper into the companies’ competitive dynamics to understand which of the two is relatively better placed in the broader industry.
The Case for AT&T
With a customer-centric business model, AT&T is witnessing healthy momentum in its postpaid wireless business with a lower churn rate and increased adoption of higher-tier unlimited plans. The company remains focused on improving mobile 5G, fixed wireless and edge computing services to drive growth. AT&T is leveraging Ericsson technology to deploy a commercial-scale open radio access network (Open RAN) across the country to help build a more robust ecosystem of network infrastructure providers and suppliers. It is also collaborating with Nokia to streamline network services, improve automation, speed up deployment times and improve operational efficiency.
AT&T has been making several customer-oriented strategies to gain a competitive edge in the industry. It is working with TransUnion to improve customer experiences with branded calling services. AT&T is also collaborating with Microsoft to move its 5G mobile network to the latter’s cloud. The move will enable AT&T to enhance productivity and deliver large-scale network services to meet customers’ needs. The company has introduced AT&T Guarantee, a first-of-its-kind industry initiative that promises to pay bill credits for any network outage across its wireless and fiber networks for consumers and small businesses.
However, despite its effort to reinforce focus on the customer-centric business model with an aim to maintain its customer base, the nationwide wireless service outage that occurred last year has dented customer trust. Moreover, its effort to woo customers with healthy discounts, freebies and cash credits further escalates margin pressures. Stiff competition from Verizon Communications Inc. VZ and T-Mobile US, Inc. TMUS is a headwind. T-Mobile’s strong cash flow position and continuous deployment of mid-band 2.5 GHz spectrum are further intensifying the competition. Declining trends in the wireline business remain a concern.
The Case for AST SpaceMobile
AST SpaceMobile has deployed its first five commercial satellites (dubbed Bluebird) in LEO, marking a key advancement in developing a space-based mobile network infrastructure. These satellites have the largest-ever commercial communications arrays spanning 693 square feet. They offer non-continuous service across the United States using more than 5,600 cells within the premium low-band spectrum. This achievement follows the success of the company's in-orbit BlueWalker 3 satellite, creating a space-based cellular broadband network that can directly link with mobile devices, eliminating the need for ground-based infrastructure. It plans to deploy 45 to 60 satellites into orbit by the first quarter of 2026. The company boasts a diverse portfolio of more than 3,650 patents and patent-pending claims worldwide for the direct-to-cell satellite ecosystem from space to Earth.
The SpaceMobile service is compatible with all major brands available in the market and connects directly to everyday mobile phones. It delivers broadband connectivity from space to unmodified mobile devices, providing a service to fill cellular coverage gaps in a differentiated approach compared to other space-based communication services. AST SpaceMobile has partnered with leading carriers such as AT&T and Verizon to tap into a pre-existing pool of cell customers and raise funds to help build a worldwide satellite network. This has enhanced cellular coverage in the United States, essentially eliminating dead zones and empowering remote areas of the country with space-based connectivity.
However, unfavorable macroeconomic conditions, including rising inflation, higher interest rates, capital market volatility, tariff imposition and geopolitical conflicts, are negatively impacting the company’s operations. These have led to continued fluctuations in satellite material prices, resulting in increased capital costs and pressure on the company’s financial performance. In addition, AST SpaceMobile faces severe competition from existing and new industry leaders like SpaceX’s Starlink and Globalstar, which are developing satellite communications technology using LEO constellations. To combat such competitive pressure, ASTS has to continuously customize its network offerings, enhance the cost-effectiveness of its products and services and boost its satellite data networks, which increases operating costs and reduces margins.
How Do Zacks Estimates Compare for T & ASTS?
The Zacks Consensus Estimate for AT&T’s 2025 sales implies year-over-year growth of 2.2%, while that for EPS suggests a decline of 8.8%. The EPS estimates have been trending northward (up 0.5%) over the past 60 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AST SpaceMobile’s 2025 sales implies year-over-year growth of 1,120%, while that for EPS suggests a decline of 39.4%. The EPS estimates have been trending northward (up 6.1%) over the past 60 days.
Image Source: Zacks Investment Research
Price Performance & Valuation of T & ASTS
Over the past year, AT&T has gained 15.1% against the industry’s decline of 0.3%. AST SpaceMobile has gained 184.6% over the same period.
Image Source: Zacks Investment Research
AT&T looks more attractive than AST SpaceMobile from a valuation standpoint. Going by the price/sales ratio, AST SpaceMobile’s shares currently trade at 115.36 forward sales, significantly higher than 1.45 for AT&T.
Image Source: Zacks Investment Research
AT&T or AST SpaceMobile: Which is a Better Pick?
While AT&T has a Zacks Rank #3 (Hold), AST SpaceMobile has a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Both AT&T and AST SpaceMobile expect sales to improve in 2025, although the latter’s growth expectations far exceed those of the former. AST SpaceMobile boasts a better price performance, although AT&T has comparatively more attractive valuation metrics. With a better Zacks Rank, solid subscriber momentum over the past few months and extensive network modernizations, AT&T appears to be relatively better placed than AST SpaceMobile. Consequently, AT&T is a better investment option at the moment.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

AT&T vs. AST SpaceMobile: Which Connectivity Stock Should You Bet On?

The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -0.53%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.71%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.99%. December E-mini S&P futures (ESZ25) fell -0.52%, and December E-mini Nasdaq futures (NQZ25) fell -0.96%.
Stock indexes settled lower on Wednesday as the broader market was under pressure throughout the session, with chipmakers selling off after Texas Instruments forecasted Q4 revenue that fell below expectations. Also, Netflix closed down more than -9% after reporting weaker-than-expected Q3 EPS. Other corporate earnings results on Wednesday were supportive for stocks. Intuitive Surgical rose more than +13% after boosting its worldwide Da Vinci procedure growth forecast for the whole year. Also, Capital One Financial rose more than +1% after reporting better-than-expected Q3 adjusted EPS.
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Stock losses accelerated Wednesday afternoon after Reuters reported that the Trump administration is considering broad restrictions on exports to China made with US software in retaliation for China’s latest round of rare earth export restrictions.
The markets are focusing on progress in US-China trade talks, as President Trump reiterated his threat on Monday to boost tariffs on Chinese goods “if there isn’t a deal” by November 1. President Trump is scheduled to meet Chinese President Xi Jinping next week on the sidelines of the Asia-Pacific Economic Cooperation conference in South Korea.
US MBA mortgage applications fell -0.3% in the week ended October 17, with the purchase mortgage sub-index down -5.2% and the refinancing sub-index up +4.0%. The average 30-year fixed rate mortgage fell -5 bp to 6.37% from 6.42% in the prior week.
The shutdown of the US government continues into its fourth week, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last three weeks of weekly initial unemployment claims and the September payroll report. The Bureau of Labor Statistics (BLS) said the September consumer price report, which was initially scheduled to be released last Wednesday, will be released this Friday. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don’t align with President Trump’s priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season continues. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 85% of the S&P 500 companies that have reported so far have beaten forecasts, on course for the best quarter since 2021. Also, more than 22% of companies in the S&P 500 that have provided guidance for their Q3 earnings results are expected to beat analysts’ expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 97% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets settled lower on Wednesday. The Euro Stoxx 50 closed down -0.84%. China’s Shanghai Composite closed down -0.07%. Japan’s Nikkei Stock 225 closed down -0.02%.
Interest Rates
December 10-year T-notes (ZNZ5) on Wednesday closed up +1.5 ticks. The 10-year T-note yield fell -1.4 bp to 3.949%. T-notes recovered from early losses on Wednesday and settled slightly higher. Wednesday’s slump in stocks, sparked by renewed China trade tensions, triggered short covering in T-notes and pushed prices higher. T-notes maintained modest gain on Wednesday due to strong demand for the Treasury’s $13 billion auction of 20-year T-bonds that had a bid-to-cover ratio of 2.73, better than the 10-auction average of 2.63.
T-notes have ongoing support due to the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields were mixed on Wednesday. The 10-year German bund yield rose +1.1 bp to 2.563%. The 10-year UK gilt yield dropped to a 6.5-month low of 4.369% and finished down -6.0 bp to 4.417%.
UK Sep CPI rose +3.8% y/y, unchanged from Aug and weaker than expectations of +4.0% y/y. Sep core CPI unexpectedly eased to +3.5% y/y from +3.6% y/y in Aug, weaker than expectations of +3.7% y/y.
ECB Vice President Guindos said, “The current ECB interest-rate level is adequate as the path forward for inflation looks positive,” and risks to the outlook for consumer-price growth are balanced.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Texas Instruments (TXN) closed down more than -5% to lead chipmakers lower after forecasting Q4 revenue of $4.22 billion to $4.58 billion, with the midpoint below the consensus of $4.50 billion. Also, ON Semiconductor (ON) closed down more than -5%, and Microchip Technology (MCHP) closed down more than -4%. In addition, Advanced Micro Devices (AMD), Marvell Technology (MRVL), and Intel (INTC) closed down more than -3%. Finally, Analog Devices (ADI), KLA Corp (KLAC), ARM Holdings Plc (ARM), GlobalFoundries (GFS), Lam Research (LRCX), Micron Technology (MU), and NXP Semiconductors NV (NXPI) all closed down by more than 2%.
Cryptocurrency-exposed stocks retreated on Wednesday as the price of Bitcoin fell more than -2%. As a result, Coinbase Global (COIN), Galaxy Digital (GLXY), MARA Holdings (MARA), Riot Platforms (RIOT), and Strategy (MSTR) closed down more than -4%.
Lennox International (LII) closed down by more than -10% to lead losers in the S&P 500 after cutting its full-year EPS forecast to $22.75-$23.25 from a previous estimate of $23.25-$24.25.
Netflix (NFLX) is down more than -10% to lead losers in the Nasdaq 100 after reporting Q3 EPS of $5.87, well below the consensus of $6.94.
AST SpaceMobile (ASTS) closed down more than -10% after announcing a private offering of $850 million of convertible senior notes due 2036.
Manhattan Associates (MANH) closed down more than -4% after reporting that its Q3 remaining performance obligations (RPOs) amounted to $2.077 billion, below the consensus of $2.088 billion.
Mattel (MAT) closed down more than -3% after reporting Q3 net sales of $1.74 billion, weaker than the consensus of $1.84 billion.
Commercial Metals (CMC) closed down more than -3% after Jeffries downgraded the stock to hold from buy.
Intuitive Surgical (ISRG) closed up more than +13% to lead gainers in the S&P 500 and Nasdaq 100 after boosting its worldwide Da Vinci procedure growth forecast for the whole year.
Avery Dennison (AVY) closed up more than +9% after reporting Q3 adjusted EPS of $2.37, better than the consensus of $2.33, and announcing a pact with Walmart where Walmart will use Avery’s sensor technology that brings RFID-enabled labels to Walmart’s fresh-food departments.
Energy producers and energy service providers rallied on Wednesday after the price of WTI crude oil rose more than +2% to a 1-week high. Halliburton (HAL) closed up more than +4% and Marathon Petroleum (MPC) closed up more than +3%. Also, Phillips 66 (PSX), Occidental Petroleum (OXY), and Valero Energy (VLO) closed up more than +2%. In addition, Baker Hughes (BKR), Chevron (CVX), ConocoPhillips (COP), Devon Energy (DVN), and Exxon Mobil (XOM) closed up more than +1%.
Amphenol (APH) closed up more than +3% after reporting Q3 Ebitda of $1.93 billion, stronger than the consensus of $1.64 billion.
Hilton Worldwide Holdings (HLT) closed up more than +3% after raising its full-year adjusted Ebitda to $3.69 billion-$3.72 billion from a previous forecast of $3.65 billion-$3.71 billion, above the consensus of $3.68 billion.
Avadel Pharmaceuticals (AVDL) closed up more than +3% after Alkermes agreed to acquire the company for about $2.1 billion, or $20 per share.
Capital One Financial (COF) closed up more than +1% after reporting Q3 adjusted EPS of $5.95, well above the consensus of $4.39.
Earnings Reports(10/23/2025)
Alaska Air Group Inc (ALK), Allegion plc (ALLE), American Airlines Group Inc (AAL), AutoNation Inc (AN), Baker Hughes Co (BKR), Blackstone Inc (BX), Boston Beer Co Inc/The (SAM), Boyd Gaming Corp (BYD), Brunswick Corp/DE (BC), Carpenter Technology Corp (CRS), CBRE Group Inc (CBRE), CenterPoint Energy Inc (CNP), Comfort Systems USA Inc (FIX), Darling Ingredients Inc (DAR), Deckers Outdoor Corp (DECK), Digital Realty Trust Inc (DLR), Dover Corp (DOV), Dow Inc (DOW), EastGroup Properties Inc (EGP), Euronet Worldwide Inc (EEFT), First Citizens BancShares Inc/ (FCNCA), Ford Motor Co (F), Freeport-McMoRan Inc (FCX), FTI Consulting Inc (FCN), Hasbro Inc (HAS), Healthpeak Properties Inc (DOC), Honeywell International Inc (HON), Intel Corp (INTC), Iridium Communications Inc (IRDM), Kinsale Capital Group Inc (KNSL), Lazard Inc (LAZ), Millrose Properties Inc (MRP), Mohawk Industries Inc (MHK), MSC Industrial Direct Co Inc (MSM), Newmont Corp (NEM), Norfolk Southern Corp (NSC), Old Republic International Cor (ORI), PG&E Corp (PCG), Pool Corp (POOL), Popular Inc (BPOP), Roper Technologies Inc (ROP), Ryder System Inc (R), SLM Corp (SLM), Spirit AeroSystems Holdings In (SPR), SS&C Technologies Holdings Inc (SSNC), TechnipFMC PLC (FTI), Textron Inc (TXT), T-Mobile US Inc (TMUS), Tractor Supply Co (TSCO), TransUnion (TRU), Union Pacific Corp (UNP), Valero Energy Corp (VLO), VeriSign Inc (VRSN), West Pharmaceutical Services Inc (WST), Western Union Co/The (WU).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Retreat on Chipmaker Weakness and Renewed China Tensions

The S&P 500 Index ($SPX) (SPY) today is down -0.37%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.36%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.68%. December E-mini S&P futures (ESZ25) are down -0.37%, and December E-mini Nasdaq futures (NQZ25) are down -0.70%.
Stock indexes are under pressure today, led by losses in chipmakers after Texas Instruments forecasted Q4 revenue that was below expectations. Also, Netflix is down more than -9% after reporting weaker-than-expected Q3 EPS. Other corporate earnings results today are mixed for stocks. Intuitive Surgical is up more than +16% after boosting its worldwide Da Vinci procedure growth forecast for the whole year. Also, Capital One Financial is up more than +3% after reporting better-than-expected Q3 adjusted EPS.
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US MBA mortgage applications fell -0.3% in the week ended October 17, with the purchase mortgage sub-index down -5.2% and the refinancing sub-index up +4.0%. The average 30-year fixed rate mortgage fell -5 bp to 6.37% from 6.42% in the prior week.
The markets are focusing on progress in US-China trade talks, as President Trump reiterated his threat on Monday to boost tariffs on Chinese goods "if there isn't a deal" by November 1. President Trump is scheduled to meet Chinese President Xi Jinping next week on the sidelines of the Asia-Pacific Economic Cooperation conference in South Korea.
The shutdown of the US government continues into its fourth week, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last three weeks of weekly initial unemployment claims and the September payroll report. The Bureau of Labor Statistics (BLS) said the September consumer price report, which was initially scheduled to be released last Wednesday, will be released this Friday. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don't align with President Trump's priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season continues. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 85% of the S&P 500 companies that have reported so far have beaten forecasts, on course for the best quarter since 2021. Also, more than 22% of companies in the S&P 500 that have provided guidance for their Q3 earnings results are expected to beat analysts' expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 97% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.43%. China's Shanghai Composite closed down -0.07%. Japan's Nikkei Stock 225 closed down -0.02%.
Interest Rates
December 10-year T-notes (ZNZ5) today are down -3 ticks. The 10-year T-note yield is up +1.0 bp to 3.972%. Supply pressures are weighing on T-notes as the Treasury will auction $13 billion of 20-year T-bonds later today. Losses in T-notes are contained due to the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are mixed today. The 10-year German bund yield is up +1.6 bp to 2.568%. The 10-year UK gilt yield dropped to a 6.5-month low of 4.369% and is down -5.5 bp to 4.422%.
UK Sep CPI rose +3.8% y/y, unchanged from Aug and weaker than expectations of +4.0% y/y. Sep core CPI unexpectedly eased to +3.5% y/y from +3.6% y/y in Aug, weaker than expectations of +3.7% y/y.
ECB Vice President Guindos said, "The current ECB interest-rate level is adequate as the path forward for inflation looks positive," and risks to the outlook for consumer-price growth are balanced.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Netflix (NFLX) is down more than -9% to lead losers in the S&P 500 and Nasdaq 100 after reporting Q3 EPS of $5.87, well below the consensus of $6.94.
Texas Instruments (TXN) is down more than -5% to lead chipmakers lower after forecasting Q4 revenue of $4.22 billion to $4.58 billion, with the midpoint below the consensus of $4.50 billion. Also, Microchip Technology (MCHP), Lam Research (LRCX), Advanced Micro Devices (AMD), and Intel (INTC) are down more than -3%. In addition, Analog Devices (ADI), Marvell Technology (MRVL), KLA Corp (KLAC), ARM Holdings Plc (ARM), and ON Semiconductor (ON) are down more than -2%.
Cryptocurrency-exposed stocks are sliding today, with the price of Bitcoin down more than -2%. As a result, Coinbase Global (COIN), Galaxy Digital (GLXY), MARA Holdings (MARA), Riot Platforms (RIOT), and Strategy (MSTR) are down more than -3%.
AST SpaceMobile (ASTS) is down more than -12% after announcing a private offering of $850 million of convertible senior notes due 2036.
GE Vernova (GEV) is down more than -8% after reporting Q3 EPS of $1.64, weaker than the consensus of $1.86.
Manhattan Associates (MANH) is down more than -5% after reporting that its Q3 remaining performance obligations (RPOs) amounted to $2.077 billion, below the consensus of $2.088 billion.
Mattel (MAT) is down more than -2% after reporting Q3 net sales of $1.74 billion, weaker than the consensus of $1.84 billion.
Commercial Metals (CMC) is down more than -2% after Jeffries downgraded the stock to hold from buy.
Intuitive Surgical (ISRG) is up more than +16% to lead gainers in the S&P 500 and Nasdaq 100 after boosting its worldwide Da Vinci procedure growth forecast for the whole year.
Pegasystems (PEGA) is up more than +10% after reporting Q3 revenue of $381.4 million, well above the consensus of $351.8 million.
Hilton Worldwide Holdings (HLT) is up more than +4% after raising its full-year adjusted Ebitda to $3.69 billion-$3.72 billion from a previous forecast of $3.65 billion-$3.71 billion, above the consensus of $3.68 billion.
Capital One Financial (COF) is up more than +3% after reporting Q3 adjusted EPS of $5.95, well above the consensus of $4.39.
Avadel Pharmaceuticals (AVDL) is up more than +3% after Alkermes agreed to acquire the company for about $2.1 billion, or $20 per share.
Alphabet (GOOGL) is up more than +1% on news that Anthropic PBC is in discussions with Google about a deal for cloud computing services valued in the high tens of billions of dollars.
Amphenol (APH) is up more than +1% after reporting Q3 Ebitda of $1.93 billion, stronger than the consensus of $1.64 billion.
Earnings Reports(10/22/2025)
Alcoa Corp (AA), Amphenol Corp (APH), Annaly Capital Management Inc (NLY), AT&T Inc (T), Avery Dennison Corp (AVY), Boston Scientific Corp (BSX), CACI International Inc (CACI), Churchill Downs Inc (CHDN), CME Group Inc (CME), Crown Castle Inc (CCI), Equity LifeStyle Properties In (ELS), First American Financial Corp (FAF), FirstEnergy Corp (FE), GE Vernova Inc (GEV), Globe Life Inc (GL), Graco Inc (GGG), Hexcel Corp (HXL), Hilton Worldwide Holdings Inc (HLT), International Business Machine (IBM), Kinder Morgan Inc (KMI), Knight-Swift Transportation Holdings Inc (KNX), Lam Research Corp (LRCX), Las Vegas Sands Corp (LVS), Lennox International Inc (LII), Lithia Motors Inc (LAD), Medpace Holdings Inc (MEDP), Molina Healthcare Inc (MOH), Moody's Corp (MCO), Northern Trust Corp (NTRS), NVR Inc (NVR), O'Reilly Automotive Inc (ORLY), Packaging Corp of America (PKG), QuantumScape Corp (QS), Raymond James Financial Inc (RJF), Reliance Inc (RS), Robert Half Inc (RHI), SEI Investments Co (SEIC), Sonoco Products Co (SON), Southern Copper Corp (SCCO), SOUTHSTATE BANK CORP (SSB), Southwest Airlines Co (LUV), Stifel Financial Corp (SF), Teledyne Technologies Inc (TDY), Tesla Inc (TSLA), Thermo Fisher Scientific Inc (TMO), Travel + Leisure Co (TNL), United Rentals Inc (URI), Vertiv Holdings Co (VRT), Viking Therapeutics Inc (VKTX), Westinghouse Air Brake Technol (WAB), Wyndham Hotels & Resorts Inc (WH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Slide on Weakness in Chipmakers

The S&P 500 Index ($SPX) (SPY) today is down -0.02%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.14%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.18%. December E-mini S&P futures (ESZ25) are down -0.01%, and December E-mini Nasdaq futures (NQZ25) are down -0.16%.
Stock indexes are posting modest losses today, led by losses in chipmakers after Texas Instruments forecasted Q4 revenue that was below expectations. Other corporate earnings results today are mixed for stocks. Intuitive Surgical is up more than +16% after boosting its worldwide Da Vinci procedure growth forecast for the whole year. Also, Capital One Financial is up more than +3% after reporting better-than-expected Q3 adjusted EPS. Conversely, Netflix is down more than -7% after reporting weaker-than-expected Q3 EPS.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
US MBA mortgage applications fell -0.3% in the week ended October 17, with the purchase mortgage sub-index down -5.2% and the refinancing sub-index up +4.0%. The average 30-year fixed rate mortgage fell -5 bp to 6.37% from 6.42% in the prior week.
The markets are focusing on progress in US-China trade talks, as President Trump reiterated his threat on Monday to boost tariffs on Chinese goods "if there isn't a deal" by November 1. President Trump is scheduled to meet Chinese President Xi Jinping next week on the sidelines of the Asia-Pacific Economic Cooperation conference in South Korea.
The shutdown of the US government continues into its fourth week, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last three weeks of weekly initial unemployment claims and the Sep payroll report. The Bureau of Labor Statistics (BLS) said the September consumer price report, which was initially scheduled to be released last Wednesday, will be released this Friday. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don't align with President Trump's priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season continues. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 85% of the S&P 500 companies that have reported so far have beaten forecasts, on course for the best quarter since 2021. Also, more than 22% of companies in the S&P 500 that have provided guidance for their Q3 earnings results are expected to beat analysts' expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 97% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.19%. China's Shanghai Composite closed down -0.07%. Japan's Nikkei Stock 225 closed down -0.02%.
Interest Rates
December 10-year T-notes (ZNZ5) today are down -2 ticks. The 10-year T-note yield is up +0.8 bp to 3.963%. Supply pressures are weighing on T-notes as the Treasury will auction $13 billion of 20-year T-bonds later today. Losses in T-notes are contained due to the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are mixed today. The 10-year German bund yield is up +0.9 bp to 2.561%. The 10-year UK gilt yield dropped to a 6.5-month low of 4.369% and is down -7.7 bp to 4.401%.
UK Sep CPI rose +3.8% y/y, unchanged from Aug and weaker than expectations of +4.0% y/y. Sep core CPI unexpectedly eased to +3.5% y/y from +3.6% y/y in Aug, weaker than expectations of +3.7% y/y.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Netflix (NFLX) is down more than -7% to lead losers in the S&P 500 after reporting Q3 EPS of $5.87, well below the consensus of $6.94.
Texas Instruments (TXN) is down more than -7% to lead chipmakers lower after forecasting Q4 revenue of $4.22 billion to $4.58 billion, with the midpoint below the consensus of $4.50 billion. Also, Microchip Technology (MCHP) is down more than -4% and Analog Devices (ADI) is down more than -3%. In addition, NXP Semiconductors NV (NXPI) and ON Semiconductor (ON) are down more than -2%, and Marvell Technology (MRVL), GlobalFoundries (GFS), Qualcomm (QCOM), and Intel (INTC) are down more than -1%.
Cryptocurrency-exposed stocks are sliding today, with the price of Bitcoin down more than -2%. As a result, Coinbase Global (COIN), Galaxy Digital (GLXY), MARA Holdings (MARA), Riot Platforms (RIOT), and Strategy (MSTR) are down more than -1%.
AST SpaceMobile (ASTS) is down more than -9% after announcing a private offering of $850 million of convertible senior notes due 2036.
Manhattan Associates (MANH) is down more than -6% after reporting Q3 remaining performance obligations (RPOs) amounted to $2.077 billion, below the consensus of $2.088 billion.
Mattel (MAT) is down more than -5% after reporting Q3 net sales of $1.74 billion, weaker than the consensus of $1.84 billion.
W R Berkley (WRB) is down by more than -1% after BMO Capital Markets downgraded the stock to underperform from market perform with a price target of $64.
Commercial Metals (CMC) is down more than -2% after Jeffries downgraded the stock to hold from buy.
Intuitive Surgical (ISRG) is up more than +16% to lead gainers in the S&P 500 and Nasdaq 100 after boosting its worldwide Da Vinci procedure growth forecast for the whole year.
Pegasystems (PEGA) is up more than +15% after reporting Q3 revenue of $381.4 million, well above the consensus of $351.8 million.
Amphenol (APH) is up more than +8% after reporting Q3 Ebitda of $1.93 billion, stronger than the consensus of $1.64 billion.
Hilton Worldwide Holdings (HLT) is up more than +4% after raising its full-year adjusted Ebitda to $3.69 billion-$3.72 billion from a previous forecast of $3.65 billion-$3.71 billion, above the consensus of $3.68 billion.
Capital One Financial (COF) is up more than +3% after reporting Q3 adjusted EPS of $5.95, well above the consensus of $4.39.
Avadel Pharmaceuticals (AVDL) is up more than +3% after Alkermes agreed to acquire the company for about $2.1 billion, or $20 per share.
Vertiv Holdings (VRT) is up more than +2% after raising its full-year adjusted EPS forecast to $4.07-$4.13 from a previous estimate of $3.75-$3.85, stronger than the consensus of $3.83.
Alphabet (GOOGL) is up more than +1% on news that Anthropic PBC is in discussions with Google about a deal for cloud computing services valued in the high tens of billions of dollars.
Earnings Reports(10/22/2025)
Alcoa Corp (AA), Amphenol Corp (APH), Annaly Capital Management Inc (NLY), AT&T Inc (T), Avery Dennison Corp (AVY), Boston Scientific Corp (BSX), CACI International Inc (CACI), Churchill Downs Inc (CHDN), CME Group Inc (CME), Crown Castle Inc (CCI), Equity LifeStyle Properties In (ELS), First American Financial Corp (FAF), FirstEnergy Corp (FE), GE Vernova Inc (GEV), Globe Life Inc (GL), Graco Inc (GGG), Hexcel Corp (HXL), Hilton Worldwide Holdings Inc (HLT), International Business Machine (IBM), Kinder Morgan Inc (KMI), Knight-Swift Transportation Holdings Inc (KNX), Lam Research Corp (LRCX), Las Vegas Sands Corp (LVS), Lennox International Inc (LII), Lithia Motors Inc (LAD), Medpace Holdings Inc (MEDP), Molina Healthcare Inc (MOH), Moody's Corp (MCO), Northern Trust Corp (NTRS), NVR Inc (NVR), O'Reilly Automotive Inc (ORLY), Packaging Corp of America (PKG), QuantumScape Corp (QS), Raymond James Financial Inc (RJF), Reliance Inc (RS), Robert Half Inc (RHI), SEI Investments Co (SEIC), Sonoco Products Co (SON), Southern Copper Corp (SCCO), SOUTHSTATE BANK CORP (SSB), Southwest Airlines Co (LUV), Stifel Financial Corp (SF), Teledyne Technologies Inc (TDY), Tesla Inc (TSLA), Thermo Fisher Scientific Inc (TMO), Travel + Leisure Co (TNL), United Rentals Inc (URI), Vertiv Holdings Co (VRT), Viking Therapeutics Inc (VKTX), Westinghouse Air Brake Technol (WAB), Wyndham Hotels & Resorts Inc (WH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Pressured as Texas Instruments Drags Chipmakers Lower

Key Points
AST SpaceMobile’s stock price has more than quadrupled this year.
It plans to significantly ramp up its satellite launches over the next few years.
But a lot of that growth is already baked into its bubbly valuations.
Texas is home to some of the largest companies in the U.S., including Oracle, Tesla, and AT&T. The Lone Star State's low taxes, low real estate and operating costs, and central location all made it an appealing alternative to the coastal states for many businesses.
Those advantages also drew in plenty of smaller and faster growing companies. One of those newcomers is AST SpaceMobile (NASDAQ: ASTS), a Midland, Texas, based producer of low Earth orbit (LEO) satellites that was founded in 2017. The company went public by merging with a special purpose acquisition company (SPAC) on April 7, 2021.
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AST's stock opened at $11.63, and it now trades at about $85. It's also up more than 300% this year. Let's see if it might soar even higher over the next few years.
What does AST SpaceMobile do?
AST's LEO satellites directly beam 2G, 4G, and 5G cellular signals to smartphones and other devices to serve rural areas that aren't covered by terrestrial cellular towers. They transmit that data through low- to mid-band spectrums, which operate at lower speeds but have a broader range than the high-band spectrums used by SpaceX's Starlink internet satellites.
AST has already signed partnerships with AT&T, Verizon, Vodafone, and Rakuten Group to expand their 5G networks with its LEO satellites. That support is helping it keep pace with Starlink, which has struck similar LEO partnerships with T-Mobile and Rogers Communications.
Last September, AST launched its first five Block 1 BlueBird (BB1) commercial satellites. This January, the Federal Communications Commission (FCC) granted it a temporary authorization to test those satellites with AT&T's and Verizon's cellular networks.
It originally planned to launch its first four Block 2 BlueBird (BB2) satellites -- which will be three and a half times larger than its BB1 satellites and process about 10 times more data -- from India this July. However, that closely watched launch has been postponed for at least a few more months.
Looking further ahead, AST still plans to have 45 to 60 satellites in orbit by the end of 2026. Over the long term, it plans to expand its "constellation" to 243 LEO satellites, but that ambitious plan would require a much broader approval from the FCC.
Could AST SpaceMobile's stock soar even higher?
In 2024, AST generated only $4 million in revenue as it incurred a net loss of $300 million. But from 2024 to 2027, analysts expect its revenue to have a compound annual growth rate (CAGR) of 473% to $830 million as it turns profitable by the final year. That outlook seems rosy, but it will depend on its ability to achieve its launch targets and secure more telecom partnerships.
With a market cap of $22.7 billion, AST is already valued at 27 times its projected sales for 2027. That rich valuation could limit its upside potential and set it up for a steep drop during the next market downturn. The company has also increased its number of outstanding shares by 426% since its SPAC merger with secondary offerings and stock-based compensation -- and it will likely keep diluting its investors as long as it keeps burning cash.
That's why it wasn't surprising when it recently announced that it would sell another $800 million worth of shares to fund its operations over the next three years. Its insiders also sold more than twice as many shares as they bought over the past 12 months.
All of those red flags suggest that AST's stock is getting overheated in this frothy market. A lot of its future catalysts -- including its BB2 launches and broader FCC approvals -- might already be baked into its valuations. It's still a promising play on the global LEO satellite market, which Market Research Future predicts will have a CAGR of 16.8% from 2025 to 2035. But I'd wait for its valuations to cool off before pressing the buy button.
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Leo Sun has positions in Verizon Communications. The Motley Fool has positions in and recommends Oracle and Tesla. The Motley Fool recommends Rogers Communications, T-Mobile US, Verizon Communications, and Vodafone Group Public. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.