Amazon's Globalstar Deal Challenges Starlink as Shares Steady Near $249

Amazon shares have held steady near $249 following a 19% rally after the April 14 announcement of its $11.57 billion Globalstar acquisition, which adds 24 satellites, Band 53 spectrum, and Apple iPhone connectivity to bolster Project Kuiper/Leo against Starlink starting 2028. The deal offers $90 cash or 0.321 Amazon shares per Globalstar share with a 40% cash cap, drawing bullish calls like Citizens' $315 target (26.5% upside) and Morgan Stanley's $300 amid AWS AI strength. Coverage through April 24 highlights execution risks including rocket shortages (243 of 3,236 satellites launched), $200 billion 2026 capex pressuring free cash flow, FCC deadlines, and 2027 closing.