Shares of Verizon (NYSE: VZ) were lagging the market once again in the first half of the year as a combination of underwhelming quarterly results, rising interest rates that make short-term bond yields more competitive, and a surge in tech stocks from interest in artificial intelligence all left the telecom stock in the dust.

According to data from S&P Global Market Intelligence, the stock fell 6% in the first six months of the year, significantly underperforming the S 500, which gained 15.9%.

As you can see from the chart below, the stock headed steadily lower over most of the first half of the year.

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Source Fool.com