China's Innovation Drive Reaches Fever Pitch in 2025: Huawei's 3nm Chip Breakthrough and Intellectual Property Push

TD Cowen maintains a Buy rating on T-Mobile US (TMUS) but lowers its price target to $263 from $291 after the company's Q3 2025 results beat expectations with a minor EBITDA beat and solid performance in phone subscriber additions and fixed wireless access customer growth. However, the firm warns of a more difficult 2026 environment due to growing competition in the wireless market.