Is AT&T Stock a Buy?
The telecom giant still looks like a stable investment for an unstable market.
AT&T (NYSE: T) is often considered a slow-growth stock -- the kind of investment people hold for stable returns and dividends rather than market-beating gains. But over the past 12 months, the telecom giant's stock rallied by 60% as the S&P 500 rose just 6%. Let's consider why this dividend stalwart attracted a stampede of bulls -- and if it's still worth buying today.
Back in 2021 and 2022, AT&T spun off DirecTV, Time Warner, and many of its smaller media assets, abandoning its ill-fated attempt to build a massive media business. By dumping those low-margin and unprofitable businesses, it freed up cash that it could use to strengthen its core 5G wireless and fiber broadband businesses, and to reduce its debt burden.
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