While a profit metric like net income shouldn't be ignored, it's ultimately an accounting figure. Free cash flow, which is the amount of cash a business generates from operations after subtracting capital expenditures, is what fuels growth investments, dividend payments, share buybacks, and debt reduction. You can't spend net income.

Investing in companies that are solid cash flow producers is often a good idea, assuming the price is reasonable. Two cash flow machines that trade at pessimistic valuations are AT (NYSE: T) and (NYSE: IBM). Both stocks look like bargains.

With Apple's iPhone 15 family officially announced, the major wireless carriers are using promotions to attract new customers and retain existing customers. AT, for example, is offering as much as $1,000 off the iPhone 15 Pro with an eligible trade-in for customers on its Unlimited plans.

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Source Fool.com