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AT&T Inc

AT&T Inc

T
$21.81USD↓-0.77%-0.17 today

MARKET CAP

151.5B

P/E (TTM)

7.3x

FWD P/E

—

DAY RANGE

$22 – $23

52W RANGE

$20
$30

AI Summary

Stalk
TrimMedium

T is in Stage 4 – Decline characterized by a sequence of lower highs and lower lows under declining 50 and 200 DMAs. A recent momentum breakout has delivered a short-term bounce, but price is extended above the flattening 9 and 21 EMAs, making timing unfavorable. Medium-term structure remains Bearish as rallies fail at longer-term DMAs, so we defer selling until a pullback into the EMA zone or near the 50 DMA. The long-term Uptrend remains intact, anchoring the secular bias. We Trim into structural resistance and await a disciplined retracement for execution.

  • ↑Q1 revenue $44B, up 2.9% YoY on fiber & internet growth
  • ↑Added 584k fiber/fixed-wireless subscribers, best Q1 ever
  • ↓Legacy service revenues fell 25% YoY, pressuring core margins
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

AT&T Inc. (NYSE: T) is a prominent telecommunications and media conglomerate in the United States, primarily focused on wireless and broadband services. The company is leading efforts to expand its fiber and 5G network, positioning itself well in the modern connectivity landscape. AT&T is navigating a competitive landscape by enhancing customer offerings through convergence strategies that combine wireless services with fixed broadband, targeting an evolving consumer preference for comprehensive connectivity solutions.

Bull says

  • ↑Q1 revenue $44B, up 2.9% YoY on fiber & internet growth
  • ↑Added 584k fiber/fixed-wireless subscribers, best Q1 ever
  • ↑Free cash flow seen at $4–4.5B in Q2, $18B full-year
  • ↑Dividend yield ~4.9% with $45B return plan through 2028
  • ↑Cost savings over $4B annually by 2028 from system retirements
  • ↑High earnings yield and manageable debt support stable valuation

Bear says

  • ↓Legacy service revenues fell 25% YoY, pressuring core margins
  • ↓Long-term debt over $150B with net debt/EBITDA of 2.7x
  • ↓Satellite providers and telco rivals intensify broadband competition
  • ↓Market saturation risks may limit fiber growth without innovation
  • ↓Weak profitability and growth factors suggest earnings scalability issues
  • ↓High short interest indicates bearish investor sentiment pressure

Investment themes with T

Networking & Connectivity Infrastructure↑ +0.56%

INTC · CIEN · MU
Telecommunications↑ +0.98%

CSCO · VZ · T
High Dividend Yield↑ +0.32%

Companies paying above-average dividends

AVGO · JPM · XOM

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 04-23-2026neutral

Transcript signals

Bull points

  • We reported 584,000 total fiber and fixed wireless advanced internet customer net additions, which is our best ever first quarter result in the sixth consecutive quarter with over half a million consumer and business net ads.
  • advanced connectivity business service revenues stabilized on a year-over-year basis for the first time ever.
  • We've committed to greater investment than any of our peers in the U.S. connectivity infrastructure, and by the end of this decade, we expect to operate the most advanced and open communications network in the U.S., built on a foundation of dense metro fiber and deep nationwide spectrum.

Bear points

  • legacy service revenues declined about 25% year over year, which is consistent with our outlook for a 20% plus decline in 2026.
  • Legacy service revenues declined about 25% year over year, which is consistent with our outlook for 20% plus decline in 2026
  • We ended the first quarter with net debt to adjust EBITDA of 2.71 times, which is up from 2.53 times at the end of the fourth quarter last year
Read full transcript analysis ›