TMUS - AT&T: Proved That It Isn't Dead Money (Downgrade)
2024-06-25 21:30:14 ET
Summary
- AT&T stock outperformed the S&P 500 recently. Are you surprised?
- Bearish investors who rated T as dead money realized their pessimism didn't pay off.
- Income investors have likely returned to the appeal of AT&T stock.
- AT&T should benefit as the Fed potentially reaches peak rates.
- I explain why my bullish thesis played out. I also make the case why it's time to be more cautious.
AT&T Stock: Outperformed The S&P 500 Recently
I reminded AT&T Inc. ( T ) investors in my previous update in March that T was still "dirt cheap" while offering a high dividend yield. Therefore, I'm not surprised with T stock's relative outperformance against the S&P 500 ( SPX ) ( SPY ), as buyers reallocated to AT&T's well-battered thesis....
AT&T: Proved That It Isn't Dead Money (Downgrade)