T-Mobile US Faces Competitive Pricing Pressure and Soft 2026 Guidance: A Reassessing of the Investment Case

T-Mobile US faces concerns over competitive pricing pressure, softer 2026 guidance, and a shareholder return program. Despite strong operating income of $20 billion and robust margins near 23%, investors are worried about pricing and margin risks. The stock has pulled back, and some investors have exited their positions. The investment narrative for T-Mobile US hinges on its ability to offset rising pricing pressure with its scale, network quality, and customer satisfaction.