After a tough 2022, the stock market bounced back in the first half of 2023. The S 500 recorded a 16% gain through the end of June, while the tech-heavy Nasdaq Composite surged more than 31%. Stocks linked to artificial intelligence technology fared even better as investors piled into hot stocks like NVIDIA.

One stock that did not participate in this rally was (NYSE: T). Shares of the telecom giant fell around 13% in the first six months of the year, losing to the broader market by a wide margin. While investors in general are not interested in AT right now, it would be wise to consider the incredibly cheap high-yield dividend stock for your portfolio.

Now that AT has fully exited the media business with its spin-off of WarnerMedia last year, the company isn't all that complicated anymore. The company sells wireless services through its mobility segment, and it sells wired services like home and business internet through its wired segments.

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Source Fool.com