ROKU - AT&T: The Leg-Pulling Oligopoly Facade And Why I'm Buying

• Management's decision to cut dividends alienates a broad segment of the company's shareholder base, suppressing shares.
• The WarnerMedia spin-off offers an attractive one-time dividend, augmenting the 4.6% forward annual distribution yield.
• The industry is characterized by intense competition and high capital costs. Rapid technology changes exacerbate these dynamics, counterbalancing the utility-like demand for communications.
• Investors shouldn't expect extraordinary returns from consumer trends, including 5G. Upstream supply chain businesses are more favorably positioned to profit from the 5G rollout.

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