For a decade, T-Mobile US, Inc. (NASDAQ:TMUS) has been one of the most preferred stocks in the telecom industry. However, on August 14, 2026, Wolfe Research's Peter Supino cut the stock's rating from Outperform to Peer Perform, and the shares declined. As Supino questions both TMUS's growth story and the cash-return story, the downgrade gives bulls some reason for caution.
T-Mobile's second-quarter print reported July 23, 2026, provides some support for Supino's first argument that
Long-term revenue growth forecast risk tilts negatively as competition expands in T-Mo's core.
Postpaid net account additions stood at 277,000 – a 13% decline from 318,000 a year earlier. Also, management expects third-quarter postpaid net account additions of approximately 250,000 as rate-plan modernization temporarily elevates account churn. Postpaid phone churn was 0.85% in Q2, with management saying the impact on phone churn should be smaller because the modernization is concentrated in accounts with fewer lines
The second argument targets cash returns. Supino warned that
#postpaid #account #Growth #argument
T-Mobile's second-quarter print reported July 23, 2026, provides some support for Supino's first argument that
Long-term revenue growth forecast risk tilts negatively as competition expands in T-Mo's core.
Postpaid net account additions stood at 277,000 – a 13% decline from 318,000 a year earlier. Also, management expects third-quarter postpaid net account additions of approximately 250,000 as rate-plan modernization temporarily elevates account churn. Postpaid phone churn was 0.85% in Q2, with management saying the impact on phone churn should be smaller because the modernization is concentrated in accounts with fewer lines
The second argument targets cash returns. Supino warned that
#postpaid #account #Growth #argument
3 hours ago
