I don’t know why anyone would want to buy AT&T (NYSE:T) stock.
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The moves into content by former CEO Randall Stephenson bombed spectacularly. Shareholders are left with $177 billion in debt and, starting next year, a skinnier dividend. The company’s wireless prospects are decent, but only because it can rip off customers.
I called AT&T a yield trap a year ago, as it turned out to be. Before the dividend cut, I was optimistic about its 5G spectrum. I called it a “sell” after the cut.
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