Telecom giant AT&T (NYSE: T) has been dead money for years. Its share price is down 25% over the past decade. But AT&T's recent success in getting out of the entertainment business and growing its wireless business could change the stock's trajectory.

Could AT&T double in price over the next 12 months? Hey, anything is possible, and it's not as crazy as you might think. Either way, AT&T could soon be a stock on the rise. I'll show you the evidence that AT&T could be one of 2023's genius stock moves.

AT&T isn't going to blow anyone away with growth. The company has grown revenue by a total of 28% over the past decade, so that's not going to be the reason the stock appreciates enough to double. Instead, it would be best if you considered AT&T's valuation over time:

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Source Fool.com