OUR PICK – AT&T (T, NYSE)

Back into the business. When AT&T decided to stray away from its core business, we knew then it’s not gonna end well as in any companies that have tried that before. Telco married with media, Plantation married with banks, and many more over the decades. Telco is a boring business, so management thought adding entertainment would make it fun. Investors however don’t agree as the stock prices fell from around $34 to $27 in a few months after AT&T bought Time Warner for $85 billion. Now after three years, AT&T realized it’s better off by focusing on its core business; especially post Covid where demand for bandwidth is higher than ever. We see AT&T remains on firm bid above $28 as we have foresaw in late January.

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