AT&T (T)
NYSECommunication ServicesTelecom ServicesSnapshot 2026-07-07
$21.06+2.33%
Close 2026-07-07 · 1-day change
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Track T free→AT&T grows Advanced Connectivity revenue to about $22.9 billion in 2026-Q1. It invests $23.5 billion in fiber and 5G networks in 2026. The company returns capital with $1.11 dividend per share and $8 billion in buybacks planned. These show steady growth and strong cash flow.
Competition from SpaceX and others is rising. CFO retirement may disrupt plans. Revenue growth is below the 5% target for Advanced Connectivity. These risks could hurt growth and profits.
The price is about 29% below our fair value near $30. Analysts expect about 3% revenue growth, which matches our view.
Breaks if: Advanced Connectivity revenue falls below $22.0B in 2026-Q1
Continue to expand Advanced Connectivity service revenue and increase the convergence rate of fiber and wireless customers.
Stated as a priority in 6 of last 6 quarters. Advanced Connectivity service revenue grew from $22.06B in 2025-Q1 to $22.86B in 2026-Q1 (+3.6%). The convergence rate of fiber and wireless customers increased over 3 percentage points year over year to nearly 45% in 2026-Q1. Management consistently emphasizes this growth priority and the financials show delivering progress.
Breaks if: Capital investment falls below $22.25B in 2026
Sustain and grow capital investment in the $23B-$24B range annually to accelerate fiber deployment and 5G network expansion.
Stated as a priority in 6 of last 6 quarters. Capital investment guidance increased from $22.25B in 2025 to $23B-$24B for 2026. Actual capital expenditures rose from $4.3B in 2025-Q1 to $4.9B in 2026-Q1. Management is maintaining and increasing investment levels, delivering on stated capital allocation plans.
Breaks if: Dividend cut or repurchases fall below $6B in 2026
Continue to return capital to shareholders with an annualized dividend of $1.11 per share and share repurchases of approximately $8 billion in 2026.
Stated as a priority in 4 of last 6 quarters. Dividend per share has been consistently maintained at $1.11 annually through 2026-Q1. Share repurchases totaled approximately $2.3B in 2026-Q1, supporting the plan for $8B in repurchases for the year. Management is delivering consistent capital returns as committed.
Breaks if: Revenue growth falls below 2% YoY in 2026-Q1
Drive consolidated service revenue growth in the low-single-digit range with Advanced Connectivity service revenue growth of 5%+.
Stated as a priority in 6 of last 6 quarters. Consolidated revenue increased from $30.6B in 2025-Q1 to $31.5B in 2026-Q1 (+2.9%), consistent with management's low-single-digit growth target. Advanced Connectivity service revenue grew 3.6% in 2026-Q1, slightly below the 5%+ target, indicating progress but some gap to stated goal.
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“Fastest-ever year-over-year organic growth in advanced home internet convergence rate.”
“Strong convergence strategy execution with over 41% of AT&T Fiber households also choosing AT&T Mobility.”
“Strong convergence strategy execution with over 41% of AT&T Fiber households also choosing AT&T Mobility.”
“Nearly four of every 10 AT&T Fiber households now choose AT&T wireless service.”
“More than 4 out of every 10 AT&T Fiber households now choose AT&T wireless.”
“Delivered consistent growth in Mobility service and broadband revenues attracting converged customers.”
Drive consolidated service revenue growth in the low-single-digit range with Advanced Connectivity service revenue growth of 5%+.
Stated as a priority in 6 of last 6 quarters. Consolidated revenue increased from $30.6B in 2025-Q1 to $31.5B in 2026-Q1 (+2.9%), consistent with management's low-single-digit growth target. Advanced Connectivity service revenue grew 3.6% in 2026-Q1, slightly below the 5%+ target, indicating progress but some gap to stated goal.
“Service revenue growth in the low-single-digit range, including Advanced Connectivity service revenue growth of 5%+.”
“Consolidated service revenue growth in the low-single-digit range.”
“Consolidated service revenue growth in the low-single-digit range.”
“Consolidated service revenue growth in the low-single-digit range.”
“Consolidated service revenue growth in the low-single-digit range.”
“Wireless service revenue growth in the 3% range; broadband revenue growth of 7%+.”
“Capital investment in the $23 billion to $24 billion range.”
“Capital investment in the $23 billion to $24 billion range annually during 2026-2028.”
“Capital investment in the $22 billion to $22.5 billion range.”
“Capital investment in the $22 billion to $22.5 billion range.”
“Capital investment in the $22 billion range.”
“Capital investment in the $21-$22 billion range.”
“Consistent capital returns, including plans to maintain its current annualized common stock dividend of $1.11 per share and share repurchases of approximately $8 billion.”
“Plans to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases.”
“Repurchased $1.5 billion in common shares; more than $2.4 billion repurchased through the third quarter under the 2024 authorization.”
“Repurchased approximately $1.0 billion in common shares.”
“Service revenue growth in the low-single-digit range, including Advanced Connectivity service revenue growth of 5%+.”
“Consolidated service revenue growth in the low-single-digit range.”
“Consolidated service revenue growth in the low-single-digit range.”
“Consolidated service revenue growth in the low-single-digit range.”
“Consolidated service revenue growth in the low-single-digit range.”
“Wireless service revenue growth in the 3% range; broadband revenue growth of 7%+.”