Verizon's (NYSE: VZ) stock slumped to a 12-year low on Oct. 21 after the telecom giant posted its third-quarter earnings report. Its revenue rose 4% year over year to $34.2 billion, which beat analysts' estimates by $410 million. Its adjusted earnings fell 7% to $1.32 per share, but still cleared the consensus forecast by 3 cents.

Those headline numbers weren't terrible, so why was Verizon's stock so thoroughly crushed over the past year? Let's compare the bear and bull cases for Verizon to see if it's an undervalued gem or a falling knife.

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Source Fool.com