Yahoo Finance analysis indicates that the real competition in satellite communications is no longer about rocket launches, but rather about who can control the spectrum within mobile phones. Currently, AST SpaceMobile (ASTS) leads with over 60 carrier partners and $1.3 billion in backlog orders. SpaceX has acquired 65 MHz of new spectrum through its EchoStar deal, and its Starlink users have reached 12 million. Rocket Lab (RKLB) is expanding its L-band spectrum business through the acquisition of Iridium. Amazon's Amazon Leo already provides satellite services for Apple iPhone and Apple Watch, while Apple's modem-level certification will determine which networks capture user economics.