What T-Mobile US, Inc. told the SEC could break it.

Adverse economic/market conditions including tariffs and trade restrictions, supply-chain disruptions, and trade-policy changes (higher tariffs, restrictions, other trade disincentives) could cause operational delays and higher procurement and operating costs and increased regulatory/compliance complexity for T-Mobile.

“operational delays, higher procurement and operational costs, and increased regulatory and compliance complexities, for example, as a result of changes to trade policies, including higher tariffs, restrictions and other economic disincentives to trade”

T-Mobile depends on third parties — including key suppliers — to provide products or services for the operation of its business (network equipment, devices, services); any failure or inability of these third parties to deliver could disrupt operations.

“any failure or inability of our third parties (including key suppliers) to provide products or services for the operation of our business”

T-Mobile cites geopolitical instability — the Ukraine-Russia, Iran-Israel and Israel-Hamas wars and further escalations — alongside inflation, interest rates, tariffs and supply-chain disruptions as adverse conditions that could affect its business, despite substantially all revenue and assets being U.S./Puerto Rico/USVI based.

“impacts of geopolitical instability, such as the Ukraine-Russia, Iran-Israel and Israel-Hamas wars and further escalations thereof; operational delays, higher procurement and operational costs”

T-Mobile's competitive position depends on providing industry-leading network coverage/speed/reliability and on developing and deploying emerging network technologies (e.g., AI-driven Radio Access Networks) in a timely manner; it also depends on FCC spectrum licenses won at auction (e.g., Auction 108 2.5 GHz) to power its 5G network.

“the telecommunications industry evolves rapidly, and emerging technologies, such as AI-driven Radio Access Networks (“AI-RAN”) and the potential transiti[on]”