Raise your hand if you've heard that telecom giant AT (NYSE: T) stock has been cheap before. Shares have been getting cheaper for years -- Ma Bell's stock price is down 40% over the past decade.

But remember, price is what you pay, and value is what you get. So what do investors get with AT? Most know about the company's 6.5% dividend, giving shareholders a solid floor for investment returns.

Can AT's business muster the growth to move the share price in the right direction? Here is what you need to know.

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Source Fool.com