- AT&T shareholders have been somewhat disappointed in the past decade – at least in relative performance.
- A leaner and better-focused AT&T is well-positioned to deliver asymmetric returns in the next decade to come.
- A 5x data increase on AT&T networks is expected in the next 5 years. And the completion of the Warner Media spinoff gave it plenty of upward optionalities.
- Yet valuation is at a secular bottom, making the return profile very asymmetric here.
- Finally, the Warner deal adds further upward optionality to the future return.
For further details see:
AT&T's New 10-Year Cycle Starts Now