Why AT&T's 2023 Looks Much Brighter Than Its 2022
U.S. telecommunications company AT&T (NYSE: T) has had an eventful year. It shed its entertainment assets to become a pure telecom business and reduced its dividend to help right the financial ship. Wall Street hasn't appreciated the company's efforts yet; the stock is down 10% since January and a painful 40% over the past decade.
Understandably, you might look at such a long streak of poor performance and quickly move on to something else. But if you're willing to put some patience and diligence into this lump of coal, you could get a diamond in 2023 and beyond. Here's why that could happen.
Anyone who's owned AT&T or looked into the stock is probably aware of its disastrous decade throughout the 2010s. The company swung hard on entertainment, spending billions of dollars on DIRECTV and Time Warner and loading itself with debt. Look at how much debt AT&T had accumulated -- it peaked at more than $200 billion with virtually nothing to show for it today!
Source Fool.com
