FCC Grants Amazon Leo Deadline Waiver as Blue Origin Recovery Eases Pressure

Amazon received a critical regulatory lifeline on June 8 when the FCC granted a conditional waiver extending its Leo satellite deployment deadline, removing the requirement to launch the first 1,616 satellites by July 30 while still mandating all 3,232 Gen 1 satellites be deployed by July 2029. The ruling follows a turbulent two weeks that began with FAA clearance for New Glenn's NG-4 mission on May 27, only to be upended by a launchpad explosion on May 29 that sent AMZN shares down roughly 3%. Confidence was partially restored by a June 1 internal memo confirming satellites were undamaged, Jeff Bezos's June 5 pledge of a 2026 return to flight, and analysts at Citi, Jefferies, and Truist maintaining Buy ratings with price targets up to $320.