Deutsche Telekom Edges Higher as T-Mobile US Earnings Loom and a Key Chart Test Approaches
Published on 07/22/2026 at 16:03 | Redaktion boerse-global.de
Europe’s largest telecom operator saw its shares climb 1.34 percent to €27.16 on Wednesday, extending a recovery that began last week. The catalyst, however, is not coming from Bonn. All eyes are on T-Mobile US, which reports second-quarter results on Thursday and serves as the primary profit engine for the entire group.
Analysts expect the US wireless carrier to post earnings per share of $2.59 on revenue of roughly $22.95 billion. That bottom-line figure would mark a decline from $2.84 in the same period a year earlier, but the market’s focus may shift to subscriber additions after AT&T surprised to the upside on Tuesday. AT&T added 432,000 new mobile customers in the quarter, beating expectations comfortably and raising hopes that T-Mobile US will deliver similarly strong numbers. A solid showing from the American subsidiary would provide a clear tailwind for the parent company’s stock.
The Deutsche Telekom share price remains roughly 21 percent below its 52-week high of €34.35, set in late February. The relative strength index stands at 56.4, a neutral reading that leaves room for movement in either direction. More immediately, the 50-day moving average sits at €27.25 — barely a whisker above Wednesday’s closing price. Thursday’s earnings report could determine whether the stock breaks through that technical barrier or stalls once again. The group’s own quarterly figures are not due until August 6, meaning the near-term narrative hinges entirely on its US subsidiary.
Should investors sell immediately? Or is it worth buying Deutsche Telekom?
Supporting the share price from behind the scenes is an aggressive buyback program. Between July 13 and July 17, Deutsche Telekom repurchased roughly 1.35 million of its own shares at prices ranging from €26.41 to €27.25. Since the start of the current tranche in early July, the company has taken about 3.67 million shares off the market. Management has earmarked around €2 billion for buybacks this year, a strategy that mechanically boosts earnings per share even without any operational improvement.
Not everyone is equally enthusiastic about the stock’s prospects. Deutsche Bank analyst Robert Grindle trimmed his price target from €42 to €40 on July 21, while maintaining a “Buy” rating. Grindle cited growing competition from satellite internet providers such as SpaceX’s Starlink — which now operates more than 10,000 active satellites — and from the Stargate AI infrastructure project. Both developments, he argued, make Deutsche Telekom “shine less brightly” in the eyes of investors. Still, the analyst pointed to the company’s low valuation and clarity around potential acquisitions as reasons to remain bullish. The two-euro reduction in the target is modest, suggesting the bank sees no fundamental rupture in its investment thesis despite the new competitive dynamics.
On the positive side of the ledger, Deutsche Telekom has secured exclusive rights to broadcast 104 matches from the 2030 FIFA World Cup via its MagentaTV streaming service. While the financial impact will not materialize until the tournament begins, the deal should help strengthen customer retention in the streaming and entertainment segment over the medium term.
Chart watchers are monitoring a key support zone between €25.70 and €26.00. As long as the stock holds above that band, the technical setup leaves room for another attempt at the 50-day moving average. A decisive break below that floor, however, would open the door to further downside and widen the already substantial gap to the February high. For now, the path of least resistance depends on what T-Mobile US delivers on Thursday.
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