For the year so far, AT&T (NYSE:T) stock has had a decent performance, up over 8%. But of course, when you look at the past several years, things have been, well, awful. Since the summer of 2016, the AT&T stock price has gone from $43 to $32. It’s true that there have been good reasons for this.
First of all, the mobile industry has reached saturation and the market is highly competitive, with tough rivals. AT&T’s $80 billion acquisition of Time Warner was expensive and bold. But it does look like a good strategic decision, which should help perk up long-term growth. AT&T stock is definitely trading at a low valuation, with the forward price-to-earnings ratio at only 9X. In the coming years, the rollout of 5G across the US will have a major impact on the tech industry.
Source: InvestorPlace
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