In this episode of *Motley Fool Hidden Gems Investing*, published on October 13, 2026, host Travis Hoey is joined by Lou Weitman and Dan Kaplinger to discuss recent market disruptions, earnings reports, and a retrospective look at the stock market.
### SpaceX and Telecom Disruption
The hosts open by discussing SpaceX’s recent agreement to acquire spectrum, which triggered a 10% drop in Verizon stock late last week as markets reacted to the prospect of SpaceX entering the wireless industry. Travis notes that his terrestrial cellular service was about eight times faster than SpaceX's $55 satellite offering, making him skeptical that users will sacrifice speed and ping times for satellite connections.
Lou Weitman agrees, pointing out the significant physics challenges involving latency and distance. However, he explains that the spectrum SpaceX purchased is actually better suited for terrestrial cellular use—specifically for penetrating walls—signalling that SpaceX is interested in building out a terrestrial network to accompany its satellites. Building this network will cost $10 billion or more, meaning it is not an immediate or cheap fix. Lou suggests this move is a form of "revenue hunting," utilizing mobile assets to generate cash flow and help fund the massive long-term capital expenditure needs of SpaceX, similar to how AT&T, T-Mobile, and Verizon generate hundreds of billions in revenue.
Dan Kaplinger notes that while Starlink is clearly useful in low-density, remote regions like Northern Canada and Alaska where land-based wireless is absent, high-density populated areas present major bandwidth challenges. Furthermore, replacing satellites every five to to seven years entails massive CapEx, though space deployment avoids paying landowners for tower placement and repairs. Dan also mentions companies like AST Space Mobile partnering with traditional providers like Verizon and AT&T, bringing increased pricing and margin pressure to the telecom industry.
### PepsiCo's Earnings and Pricing Power
Next, the panel analyzes PepsiCo’s latest earnings report, which showed revenue growing as expected, though margins were down and bottom-line guidance came in weaker due to rising commodity prices. Dan Kaplinger highlights the dramatic rise in consumer prices since 2020, such as potato chips rising 50% from $4.50 to $6.50 per pound, and soft drinks rising from $0.35 to $0.60 per can. These increases far outpace overall CPI inflation. Dan also points to a recent FTC lawsuit alleging collusion between PepsiCo and Walmart over preferential pricing, highlighting the immense pressure to keep consumer price increases under control amid an affordability crisis and a shift toward store brands.
Lou Weitman admits he does not follow the company closely as a consumer, but views the stock as increasingly appetizing. Trading at roughly 15 times expected earnings with a dividend yield hovering near 4.7% and growing, Lou believes that PepsiCo is a long-term survivor and that much of the negativity is already priced in.
### Looking Back Four Years on the Market
The episode concludes with a look back at the market bottom from the pandemic highs to its lows four years ago. Lou expresses concern that investors may be overestimating their resilience because the 2022 downdraft was a slow slog rather than a severe crash like 2008, warning listeners not to make panic-driven decisions during future crises.
Dan Kaplinger highlights that investors who stayed the course through the 2021–2022 decline were rewarded with a 21.6% four-year average annual return in the S&P 500—more than a double in four years. However, he notes a major participation disparity: nearly 150 stocks (about 30% of the current S&P 500) are still down over the past five years, underscoring that gains have been concentrated in a small number of stocks. This makes individual stock picking and evaluating real disruption stories—such as how artificial intelligence will impact various industries—more important than ever.