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RFK on RF: Storm Clouds Ahead for Wireless?

When President-elect Trump nominated Robert Kennedy Jr. (RFK) to be the Secretary of Health and Human Services, the market immediately punished pharmaceutical stocks, reflecting RFK’s many statements about the efficacy of vaccines and drugs. But that is not the only sector where his approach to the scientific consensus could prove problematic. RFK has also attacked wireless services as a source of public health problems. As discussed in this note, we don’t think RFK’s views are as problematic for the wireless industry (which he will not regulate) as for the pharmaceutical industry (which if confirmed, he will). Nonetheless, as we discuss, he will have tools to negatively affect the environment in which wireless services operate, including in a pending but generally ignored FCC proceeding. Therefore, we think investors in wireless should be aware of RFK’s attacks, and tactics he could use that could potentially slow down and raise the costs of deploying next generation wireless networks and services.