Many stock analysts entered 2024 with the expectation that the year would mark a shift to value. After all, large-cap growth stocks had a stellar performance last year and many of them are now trading at lofty valuations that are hard to justify.
On the other hand, many solid but slower-growth companies have seen their share prices decline in recent years due to rising interest rates and a cooling economy. Moreover, investors should not forget that value stocks have often beaten growth stocks over long periods, and a reversal of fortune could be on the horizon given that growth stocks have been the market's best performers since around 2007.
With this background in mind, AT (NYSE: T) stands out in many ways as a highly attractive value play that could benefit from a possible sea change in sentiment. In the same breath, this telecom giant also comes with some important risks that might keep it from participating in a marketwide value tilt in 2024.
Source Fool.com