TMT Daily "LatAm Telcos: Starship could become a Telecom game changer;..."

研报英文原文证据摘录

TMT Daily "LatAm Telcos: Starship could become a Telecom game changer;..."

Global Research

8 July 2026ab

TMT Daily Equities

Emerging MarketsLatAm Telcos: Starship could become a

Telecom game changer; GLOB/CINT: ACN and Telecommunications

Cognizant partnerships with Google Cloud Leonardo Olmos,AnalystCFA

leonardo.olmos@ubs.com

+55-11-9658 7533

TMT Calendar: next main events Gustavo Farias

Associate Analyst

(July 9) TCS earnings release gustavo.farias@ubs.com

(July 21) AMX earnings release +55-11-2767 6154

(July 22) AT&T earnings release

(July 23) Televisa earnings release

(July 27) TEF-BZ earnings release

(July 27) TIM earnings release

(July 29) TEF earnings release

(July 29) Intelbras earnings release

(July 29) Cognizant earnings release

(July 30) Grid Dynamics earnings release

LatAm telcos: Starship could become a Telecom game changer

What happened: Yesterday, UBS analyst John Hodulik initiated coverage of SpaceX.

We highlight the key takeaways regarding Starlink's potential capacity expansion

and the implications for AMX/TEF-BZ/TIM/TEO/TIGO.

A key part of the SpaceX thesis is that Starship is ultimately an economics

story. The report estimates launch costs could fall to roughly US$200/kg from

around US$1,000/kg today, while enabling deployment at an unprecedented

scale. Next-generation Starlink satellites are also expected to deliver 10x

more capacity per satellite at ~1/10th the deployment cost, materially

improving network economics.

Lower launch costs and higher satellite throughput could support a much

larger Starlink constellation, reducing two of the network's key constraints:

capacity and congestion. As a result, Starlink remains one of the largest

drivers of value creation in the SpaceX thesis.