Amazon Launches More Satellites to Prepare Initial Space Internet Service for Late 2026

Key Stats for Amazon Stock

• Price change for Amazon stock in the last 5 days: 7%
• $AMZN Share Price as of Jul. 2: $243
• 52-Week High: $279
• $AMZN Stock Price Target: $313

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What Happened?

Amazon (AMZN) reached a meaningful milestone in its push to compete with SpaceX’s Starlink. The company launched 29 satellites into orbit early Thursday morning aboard a United Launch Alliance Atlas V rocket, bringing its total Leo constellation to more than 390 satellites.

That’s enough, according to Amazon Leo vice president Chris Weber, to support continuous service across initial latitudes.

The launch clears the path for Amazon to begin initial commercial service of its Leo internet network later this year.

The company previously offered an enterprise preview to select businesses in November, but this will be the first time Amazon Leo is available to consumers and government customers.

• Amazon is a long way behind SpaceX, which had a four-year head start.
• Starlink now operates around 10,000 satellites and serves more than 10 million subscribers.
• Amazon announced the project in 2019 and eventually renamed it Leo.
• The company’s long-term goal is a constellation of roughly 7,700 satellites, though a shortage of launch capacity has slowed that buildout.

More setbacks came in May when a Blue Origin New Glenn rocket exploded on the launchpad during a test, just days before it was supposed to carry a batch of Amazon satellites.

Amazon said its next Leo mission will use ULA’s Vulcan heavy-lift rocket to accelerate deployment.

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What the Market Is Telling Us About Amazon Stock

Amazon stock investors have been watching the Leo satellite business as a potential long-term growth driver. On the Q1 2026 earnings call, CEO Andy Jassy called it a business with a chance to become “a very large many billion-dollar revenue business,” comparing its capital-intensive early structure to what AWS looked like in its early days.

Amazon has already signed commercial agreements with companies including Delta Air Lines, which committed to using Leo for at least half of its fleet starting in 2028, as well as AT&T, Vodafone, and others.

Amazon also recently announced an agreement to acquire Globalstar to add direct-to-device satellite capabilities, and entered a deal with Apple to power satellite services for iPhones and Apple Watches.

The company plans more than 20 launches in 2026 and over 30 in 2027, with commercial service on track for Q3 2026. Management has said Amazon Leo’s combination of low latency, competitive pricing, and integration with AWS makes it especially compelling for enterprise and government customers.

Whether Amazon stock benefits meaningfully from Leo in the near term will depend on execution.

The company is still well behind Starlink, and launch delays have been a persistent challenge.

But the constellation is growing, initial service is close, and the pipeline of customer commitments is already building.

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Disclaimer:

Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!