2023-12-28 07:10:00 ET
Telecom giant AT&T (NYSE: T) is vastly underperforming the S&P 500 in 2023. With just a few trading days left in the year, AT&T stock is down nearly 10% year to date while the S&P 500 has gained 24%.
AT&T faces its fair share of challenges, including a tough competitive environment, high debt levels, and an uncertain economy. But investors shouldn't let the stock's miserable performance in 2023 push them away. Here's why AT&T shares could come roaring back in 2024.
AT&T's core wireless business has slowed down since the pandemic, but the company is still winning subscribers at a healthy pace. AT&T reported postpaid phone net adds of 468,000 in Q3 of 2023, an improvement over the first and second quarters.
For further details see:
3 Reasons to Buy AT&T Stock in 2024