T-Mobile US (TMUS) Citi’s 2026 Global TMT Conference summary

Leadership transition and succession planning

• CFO plans to retire mid-next year, motivated by personal goals and confidence in the business's future trajectory and successor.

• Successor Jessica brings experience in capital allocation, AI adoption, and a strong cultural fit.

• Leadership is optimistic about the next era of growth and has extended contracts to ensure smooth transition.

Industry landscape and competitive strategy

• Industry uncertainties like DISH and Starlink are not seen as significant threats; focus remains on network quality, value, and customer experience.

• Growth opportunities identified in network seekers, rural markets, and business solutions leveraging 5G leadership.

• Competitors are de-emphasizing product differentiation, creating a favorable environment for continued growth.

Growth drivers and business adjacencies

• Fixed wireless broadband has grown rapidly, nearing 10 million subscribers, with a target of 15 million by 2030.

• Financial services and physical AI are seen as major future growth areas, leveraging customer relationships and network technology.

• Fiber and fixed wireless are viewed as complementary, with fiber expansion driven by financial returns rather than coverage targets.