AT&T Inc. provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores. It also provides Virtual Private Networks, AT&T Dedicated Internet, Ethernet, data services, cloud solutions, outsourcing, and managed professional services, as well as customer premises equipment for multinational corporations, small and mid-sized businesses, governmental, and wholesale customers. In addition, this segment offers broadband services, including fiber connections, legacy telephony voice communication services, and other VoIP services and equipment to residential customers. This segment markets its communications services and products under the AT&T, AT&T Business, Cricket, AT&T PREPAID, and AT&T Fiber brand names. The Latin America segment provides postpaid and prepaid wireless services in Mexico under the AT&T and Unefon brand names, as well as sells smartphones through its owned stores, agents and third-party retail stores. The company was formerly known as SBC Communications Inc. and changed its name to AT&T Inc. in 2005. AT&T Inc. was incorporated in 1983 and is based in Dallas, Texas.

AT&T Inc.

The S&P 500 Index ($SPX) (SPY) today is up by +1.62%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +1.93%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +1.81%. September E-mini S&P futures (ESU25) are up +1.58%, and September E-mini Nasdaq futures (NQU25) are up +1.75%.
Stock indexes are rallying sharply today, with the Dow Jones Industrials posting a new all-time high. Stock prices jumped and bond yields tumbled after comments from Fed Chair Powell opened the door for a Fed rate cut next month. Fed Chair Powell said downside risks to employment are rising, and the shifting balance of risks may warrant adjusting monetary policy. The 10-year T-note yield fell to a 1-week low of 4.25% on the comments, and the chances of a Fed rate cut at the September 29-30 FOMC meeting rose to 90% from 71% before Powell spoke.
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Fed Chair Powell said, "The stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance. Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance."
Comments today from Boston Fed President Susan Collins were slightly hawkish when she said, US economic growth is slowing, but overall economic fundamentals are solid as she sees upside risks to inflation and downside risks on labor. She added that Fed policy is modestly restrictive, which is appropriate.
On the geopolitical front, US Vice President Vance said negotiations over ending Russia's war in Ukraine are focused on security guarantees for Ukraine and territory Russia wants to control, including Ukrainian territory that it currently isn't occupying, as the US tries to broker a peace deal between the two countries. The US is working to set up a meeting between Presidents Putin and Zelensky, and if that meeting goes well, President Trump said he'll look to follow up with a trilateral summit with the leaders.
Regarding tariffs, President Trump widened steel and aluminum tariffs to include more than 400 consumer items that contain the metals, such as motorcycles, auto parts, furniture components, and tableware. The change went into effect on Monday and did not exclude goods already in transit. Last Friday, Mr. Trump said, "I'll be setting tariffs next week and the week after on steel and on, I would say chips – chips and semiconductors, we'll be setting sometime next week, week after." Mr. Trump last week said he planned a 100% tariff on semiconductors but would exempt companies that move chip manufacturing to the US. Mr. Trump also mentioned 200% or 300% tariffs on chips.
In other recent tariff news, Mr. Trump last Tuesday extended the tariff truce with China for another 90 days until November. On August 6, Mr. Trump announced that he will double tariffs on US imports from India to 50% from the current 25% tariff, due to India's purchases of Russian oil. On August 5, Mr. Trump said that US tariffs on pharmaceutical imports would be announced "within the next week or so." According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced.
Federal funds futures prices are discounting the chances for a -25 bp rate cut at 90% at the September 16-17 FOMC meeting, up from 71% Thursday. The markets are discounting the chances at 53% for a second -25 bp rate cut at the following meeting on October 28-29.
Earnings reports indicate that S&P 500 earnings for Q2 are on track to rise +9.1% y/y, much better than the pre-season expectations of +2.8% y/y and the most in four years, according to Bloomberg Intelligence. With over 93% of S&P 500 firms having reported Q2 earnings, about 83% of companies exceeded profit estimates.
Overseas stock markets today are higher. The Euro Stoxx 50 rallied to a 5-month high and is up +0.67%. China's Shanghai Composite climbed to a new 10-year high and closed up +1.45%. Japan's Nikkei Stock 225 recovered from a 1.5-week low and closed up +0.05%.
Interest Rates
September 10-year T-notes (ZNU5) today are up +17 ticks, and the 10-year T-note yield is down -5.6 bp to 4.2716%. Sep T-notes rallied to a 1-week high today, and the 1-year T-note yield dropped to a 1-week low of 4.248%. T-note prices jumped today on dovish comments from Fed Chair Powell, who said downside risks to employment are rising and the shifting balance of risks may warrant adjusting monetary policy. Powell's comments boosted the chances for a 25 bp Fed rate cut to 90% at the September 29-30 FOMC meeting from 71% on Thursday.
Gains in T-notes are limited by hawkish comments from Boston Fed President Susan Collins, who said modestly restrictive Fed policy is appropriate. Also, rising inflation expectations are bearish for T-notes after the 10-year breakeven inflation rate rose to a 2-week high today at 2.416%.
European government bond yields today are moving lower. The 10-year German bund yield is down -2.8 bp to 2.729%. The 10-year UK gilt yield fell from a 2.75-month high of 4.759% and is down -2.2 bp to 4.707%.
German Q2 GDP was revised lower to -0.3% q/q and -0.2% y/y from the previously reported -0.1% q/q and unchanged y/y.
Swaps are discounting the chances at 2% for a -25 bp rate cut by the ECB at the September 11 policy meeting.
US Stock Movers
Strength in chipmakers is supporting gains in the broader market. Microchip Technology (MCHP) is up more than +6% to lead gainers in the Nasdaq 100. Also, ON Semiconductor (ON) and NXP Semiconductors NV (NXPI) are up more than +6%, and GlobalFoundries (GFS) is up more than +5%. In addition, ARM Holdings Plc (ARM), Marvell Technology (MRVL), and Intel (INTC) are up more than +4%, and Lam Research (LRCX), Micron Technology (MU), Texas Instruments (TXN), Analog Devices (ADI), and ASML Holding NV (ASML) are up more than +3%.
Homebuilders and home building supplies are climbing today after the 10-year T-note yield fell to a 1-week low, a supportive factor for housing demand. Builders FirstSource (BLDR) is up more than +8% to lead gainers in the S&P 500, and Mohawk Industries (MHK) is up more than +7%. Also, Lennar (LEN), PulteGroup (PHM), DR Horton (DHI), and Toll Brothers (TOL) are up more than +5%.
Ubiquiti (UI) is up more than +19% after reporting Q4 revenue of $759.2 million, well above the consensus of $621 million.
Zoom Communications (ZM) is up more than +9% after reporting Q2 revenue of $1.22 billion, better than the consensus of $1.20 billion, and raising its 2026 revenue forecast to $4.83 billion-$4.84 billion from a previous estimate of $4.80 billion-$4.81 billion, stronger than the consensus of $4.81 billion.
Qxo Inc (QXO) is up more than +6% after Benchmark Company LLC initiated coverage on the stock with a recommendation of buy and a price target of $50..
Esab Corp (ESAB) is up more than +4% after Loop Capital Markets upgraded the stock to buy from hold with a price target of $140.
Ulta Beauty (ULTA) is up more than +2% after Barclays upgraded the stock to overweight from equal weight with a price target of $589.
Intuit (INTU) is down more than -5% to lead losers in the S&P 500 and Nasdaq 100 after forecasting 2026 adjusted operating income of $8.61 billion-$8.69 billion, the midpoint below the consensus of $8.67 billion.
CSX Corp (CSX) is down more than -4% after announcing a joint intermodal service with BNSF to ship between California, North Carolina, and Florida.
Workday (WDAY) is down more than -4% after reporting an unexpected -$5 million loss in Q2 professional services adjusted gross profit versus expectations of a $9.5 million profit.
Telecommunication stocks are under pressure today. Verizon Communications (VZ) is down more than -1% to lead losers in the Dow Jones Industrials. Also, AT&T (T) and T-Mobile US (TMUS) are down more than -1%.
Earnings Reports(8/22/2025)
BJ's Wholesale Club Holdings Inc (BJ), Buckle Inc/The (BKE), New Fortress Energy Inc (NFE), Ubiquiti Inc (UI).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Soar as Fed Chair Powell Signals Lower Interest Rates

It has been about a month since the last earnings report for AT&T (T). Shares have added about 5.4% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is AT&T due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for AT&T Inc. before we dive into how investors and analysts have reacted as of late.
T Beats Q2 Earnings Estimates on Higher Revenues, Solid Demand
AT&T reported strong second-quarter 2025 results with adjusted earnings and revenues beating the respective Zacks Consensus Estimate.
The company witnessed solid wireless traction and customer additions, which were partially offset by lower demand for legacy voice and data services. AT&T recorded strong subscriber growth backed by a resilient business model and robust cash flow position, driven by a diligent execution of operational plans. AT&T expects to continue investing in key areas of 5G and fiber and adjust its business according to the evolving market scenario to fuel long-term growth.
Net Income
On a GAAP basis, AT&T reported a net income of $4.46 billion or 62 cents per share compared with $3.55 billion or 49 cents per share in the year-ago quarter. The significant improvement was primarily attributable to higher contributions from the DIRECTV investments during the quarter.
Excluding non-recurring items, adjusted earnings improved to 54 cents per share from 51 cents a year ago. Adjusted earnings for the second quarter surpassed the Zacks Consensus Estimate by three cents.
Quarter Details
Quarterly GAAP operating revenues increased 3.5% year over year to $30.85 billion, largely due to higher Mobility service and equipment sales and Consumer Wireline revenues, partially offset by lower Business Wireline and Mexico revenues. The top line beat the consensus mark of $30.53 billion.
Adjusted operating income increased to $6.49 billion from $6.28 billion for respective adjusted operating income margins of 21% and 21.1%. Adjusted EBITDA improved to $11.73 billion from $11.34 billion.
AT&T witnessed solid subscriber momentum with 479,000 post-paid net additions. This included 401,000 postpaid wireless phone additions. Postpaid churn was 1.02%, while postpaid phone-only average revenue per user (ARPU) increased 1.1% year over year to $57.04 due to improved international roaming, pricing actions and a transition to higher-priced unlimited plans.
Segmental Performance
Communications: Total segment operating revenues were $29.7 billion, up from $28.58 billion, as improvement in the Mobility business (up 6.7% to $21.84 billion) and Consumer Wireline (up 5.8% to $3.54 billion) was partially offset by a decline in Business Wireline (down 9.3% to $4.31 billion). The segment revenues missed our estimates of $29.72 billion.
Service revenues from the Mobility unit improved 3.5% to $16.85 billion, driven by solid subscriber and postpaid ARPU gains, while equipment revenues were up 18.8% year over year to $4.99 billion due to higher volumes of non-phone sales and higher-priced phone sales. Revenues from the Consumer Wireline business were up due to a gain in fiber broadband. AT&T recorded net fiber additions of 243,000, while Internet Air added 203,000 subscribers during the quarter. By the end of 2030, AT&T expects to reach approximately 50 million customer locations with its in-region fiber network and more than 60 million fiber locations when including the Lumen Mass Markets fiber assets. Revenues from Business Wireline were down due to lower demand for legacy voice and data services as customers shifted to more advanced IP-based offerings. Total segment operating income improved 0.9% to $7.06 billion, with operating margins of 23.8% (down 70 bps). Adjusted EBITDA was $12.1 billion compared with $11.78 billion in the year-ago quarter.
Latin America: Total operating revenues were $1.05 billion, down 4.4% year over year, due to lower equipment sales and service revenues. Adjusted EBITDA improved to $201 million from $178 million in the year-ago quarter.
Cash Flow & Liquidity
For the first six months of 2025, AT&T generated $18.81 billion of cash from operations compared with $16.64 billion a year ago. Free cash flow for the quarter was $4.39 billion compared with $3.95 billion in the year-ago quarter. As of June 30, 2025, AT&T had $10.5 billion of cash and cash equivalents with long-term debt of $123.06 billion. The company repurchased $1 billion worth of shares during the quarter. Net debt to adjusted EBITDA was about 2.64X.
Guidance
While optimizing operations, AT&T is aiming to increase efficiencies to lower operating costs while focusing on 5G and fiber-based connectivity, along with an expanded reach of software-based entertainment platforms. For 2025, AT&T expects wireless service revenues to improve 3% or more, while broadband revenues are anticipated to grow in the mid to high-teens. Adjusted earnings are projected to be between $1.97 and $2.07 per share. Free cash flow in 2025 is expected to be more than $16 billion due to cost savings. AT&T expects to repurchase $4 billion worth of shares in 2025. The company is also aiming to reduce its debt burden by monetizing non-core assets.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a upward trend in fresh estimates.
VGM Scores
Currently, AT&T has a subpar Growth Score of D, a grade with the same score on the momentum front. However, the stock has a score of B on the value side, putting it in the top 40% for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions has been net zero. Notably, AT&T has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
AT&T is part of the Zacks Wireless National industry. Over the past month, Verizon Communications (VZ), a stock from the same industry, has gained 4.5%. The company reported its results for the quarter ended June 2025 more than a month ago.
Verizon reported revenues of $34.5 billion in the last reported quarter, representing a year-over-year change of +5.2%. EPS of $1.22 for the same period compares with $1.15 a year ago.
For the current quarter, Verizon is expected to post earnings of $1.20 per share, indicating a change of +0.8% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.7% over the last 30 days.
Verizon has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
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AT&T Inc. (T) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

AT&T (T) Up 5.4% Since Last Earnings Report: Can It Continue?

Verizon Communications Inc. VZ and AT&T, Inc. T are prominent players in the telecommunications industry. As one of the leading wireless carriers in the United States, Verizon delivers communication services to a vast customer base across the public sector, small, medium businesses and global enterprises as well. AT&T is also one of the larger telecom companies in North America, boasts a large user base and offers a wide array of communication and business solutions that include wireless, local exchange, long-distance, data/broadband and Internet, video, managed networking, wholesale and cloud-based services.
Per Grand View Research, the U.S. telecom services market is expected to witness a 6.6% compound annual growth rate between 2024 and 2030. The U.S. Fiber to the home market size is projected to grow from $10.7 billion to $21.5 billion in 2030 with a CAGR of 12.7%. Let us analyze in depth the competitive strengths and weaknesses of the companies to understand which of AT&T or Verizon is in a better position to maximize gains from these emerging market trends.
The Case for AT&T
5G deployment and adoption in the United States is driven by a multitude of forces. Spectrum availability and regulatory support were the initial drivers of 5G growth, but currently growing usage of several high-end applications across several sectors has become a key driver. 5G networks enable high-speed internet with low latency. Advanced use cases such as AI applications, IoT devices and cellular vehicle-to-everything (C-V2X) applications require a network connectivity. AT&T is focusing on network infrastructure modernization to gain from this 5G boom.
In order to have a seamless transition among Wi-Fi, Long-Term Evolution (LTE) and 5G services, AT&T intends to deploy a standards-based nationwide mobile 5G network. Its 5G service entails the utilization of millimeter wave spectrum for deployment in dense pockets, while in suburban and rural areas, it intends to deploy 5G on mid- and low-band spectrum holdings. The company’s also aggressively expanding its fiber infrastructure across the country. Its fiber broadband network has reached 30 million consumer and business locations across the United States.
The company is also collaborating with Ericsson to deploy a commercial-scale open radio access network (Open RAN) across the country to help build a more robust ecosystem of network infrastructure providers and suppliers. The Open RAN architecture facilitates healthy competition among vendors for the supply of essential components and reduces dependence on a single manufacturer. It is likely to offer more flexibility, lower costs and help develop novel ideas to monetize the network. AT&T aims to deploy Open RAN for 70% of its wireless network traffic across open-capable platforms by late 2026.
AT&T is also collaborating with Microsoft to move its 5G mobile network to the latter’s cloud. The process will start with AT&T’s 5G core, which is the 5G network’s main software that connects mobile users with the Internet. The move will enable AT&T to enhance productivity and deliver large-scale network services to meet customers’ needs. The company has extended its long-standing business relationship with Google Cloud to offer end-to-end solutions for improved customer experiences.
However, the company’s margin is affected by intensifying competition in the 5G and Fiber Broadband market. The company faces stiff competition from other industry leaders such as T-Mobile, US, Inc. TMUS and Verizon. T-Mobile has a strong position in the U.S. 5G market. The company’s 5G network covers 98% of Americans, or 330 million people in the country. About 55% of postpaid customers are using a 5G phone, and 5G devices account for more than half of the total network traffic. The company is steadily expanding into underserved rural regions, which could pose a challenge to AT&T’s 5G initiatives.
The Case for Verizon
Verizon is witnessing significant 5G adoption and fixed wireless broadband momentum. The telecom giant plans to accelerate the availability of its 5G Ultra-Wideband network across the country. Its 5G network hinges on three fundamental drivers to deliver the full potential of next-generation wireless technology. These include massive spectrum holdings, particularly in the millimeter-wave bands for faster data transfer, end-to-end deep fiber resources and the ability to deploy a large number of small cells. The company’s C-Band spectrum offers greater coverage for 5G networks and greater speeds than on low-band spectrum, and paves the way to provide differentiated service of 5G Ultra-Wideband to millions of customers.
Verizon’s customer segmentation strategy, which categorizes different client groups, helps it deliver tailored solutions to different sectors. Such personalized offerings help in client retention and drive average revenue per account growth. Its three-year price lock guarantee will ensure the core monthly plan price for calling, data and texting will not change in the next three-year period, excluding taxes, fees and perks. The company also introduced cutting-edge AI-native features to boost customer service. Such initiatives are driving customer engagement.
However, the company operates in a highly competitive U.S. wireless market. High market saturation has made the customer base highly price sensitive, leaving little room for price adjustments. In a bid to expand its customer base, Verizon is spending heavily on promotion and is also offering lucrative discounts, which are weighing on margins.The company recorded high capital expenditures in order to support the launch and continued build-out of its 5G Ultra Wideband network, deployment of significant fiber assets across the country and upgrade to Intelligent Edge Network architecture. It remains unclear if and when a reasonable return can be achieved from such investments.
To counter these issues, the company has been steadily expanding its portfolio offerings to develop advanced use cases. It has introduced Edge Transportation Exchange, a state-of-the-art mobile-network vehicle-to-everything (V2X) communication platform for connected vehicles. The cutting-edge solution incorporates Verizon’s industry-leading 5G, LTE mobile networks, and Verizon 5G Edge mobile edge compute to enable vehicles to communicate and share important data with each other. Such initiatives open up new streams for revenue generation and bode well for long-term growth.
How Do Zacks Estimates Compare for VZ & T?
The Zacks Consensus Estimate for Verizon’s 2025 sales and EPS implies year-over-year growth of 2.51% and 2.4%, respectively. The EPS estimates have moved northward over the past 60 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AT&T’s 2025 sales indicates growth of 2.16% year over year, while EPS is projected to decline 9.29%. The EPS estimates have been trending upward over the past 60 days.
Image Source: Zacks Investment Research
Price Performance & Valuation of VZ & T
Over the past year, Verizon has gained 9.6% compared with the industry’s growth of 27%. T has gained 50.8% over the same period.
Image Source: Zacks Investment Research
Verizon looks more attractive than AT&T from a valuation standpoint. Going by the price/earnings ratio, Verizon’s shares currently trade at 9.28 forward earnings, lower than 13.41 for AT&T.
Image Source: Zacks Investment Research
VZ or T: Which is a Better Pick?
Verizon and AT&T carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Both companies are swiftly strengthening their 5G infrastructure and are also aggressively venturing into the fiber broadband market. However, with a customer-centric business model, AT&T is witnessing healthy momentum in its postpaid wireless business with a lower churn rate and increased adoption of higher-tier unlimited plans. Strategic collaboration with various industry leaders to improve customer experience is a positive factor. Its extensive network modernization efforts will boost prospects in the long run. With better price performance and upward estimate revision, AT&T appears to be a better investment option at the moment.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Verizon vs. AT&T: Which Telecom Stock Has More Upside Potential?

The NASDAQ 100 Pre-Market Indicator is down -79.21 to 23,170.36. The total Pre-Market volume is currently 80,396,653 shares traded.
The following are the most active stocks for the pre-market session:
Opendoor Technologies Inc (OPEN) is unchanged at $3.22, with 6,492,944 shares traded. OPEN's current last sale is 338.95% of the target price of $0.95.
Direxion Daily TSLA Bull 2X Shares (TSLL) is -0.14 at $11.54, with 4,414,499 shares traded. This represents a 83.47% increase from its 52 Week Low.
ProShares UltraPro Short QQQ (SQQQ) is +0.22 at $18.55, with 4,231,347 shares traded. This represents a 11.01% increase from its 52 Week Low.
Defiance Daily Target 2x Short PLTR ETF (PLTZ) is +0.1098 at $10.25, with 4,023,035 shares traded. This represents a 44.77% increase from its 52 Week Low.
AT&T Inc. (T) is -0.04 at $29.24, with 3,967,805 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2025. The consensus EPS forecast is $0.54. , following a 52-week high recorded in prior regular session.
NVIDIA Corporation (NVDA) is -0.74 at $174.66, with 3,621,897 shares traded.NVDA is scheduled to provide an earnings report on 8/27/2025, for the fiscal quarter ending Jul2025. The consensus earnings per share forecast is 0.94 per share, which represents a 65 percent increase over the EPS one Year Ago
NIO Inc. (NIO) is +0.2 at $5.27, with 3,337,261 shares traded. NIO's current last sale is 124% of the target price of $4.25.
Palantir Technologies Inc. (PLTR) is -0.97 at $155.04, with 2,902,179 shares traded. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2025. The consensus EPS forecast is $0.11. PLTR's current last sale is 92.56% of the target price of $167.5.
Walmart Inc. (WMT) is -3.11 at $99.46, with 2,148,774 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jul 2025. The consensus EPS forecast is $0.73. Smarter Analyst Reports: Walmart Enters Premier Beauty Collaboration with Space NK
Amcor plc (AMCR) is -0.03 at $8.54, with 1,217,649 shares traded. As reported by Zacks, the current mean recommendation for AMCR is in the "buy range".
Coty Inc. (COTY) is -0.93 at $3.93, with 1,122,497 shares traded. COTY's current last sale is 69.56% of the target price of $5.65.
Aegon Ltd. (AEG) is +0.5199 at $7.98, with 1,118,421 shares traded. As reported by Zacks, the current mean recommendation for AEG is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Most Active for Aug 21, 2025 : OPEN, TSLL, SQQQ, PLTZ, T, NVDA, NIO, PLTR, WMT, AMCR, COTY, AEG

Key Points
AST SpaceMobile has surged 135% year to date and projects $50 million to $75 million in revenue for H2 2025 from satellite deployments.
Rigetti Computing just raised $35 million from Quanta Computer and delivered the industry's largest demonstrated multi-chip quantum system.
Both stocks carry enormous risk but offer asymmetric upside if their technologies achieve commercial scale.
Growth investors hunting for the next big thing face a classic dilemma: Wait for proven winners at premium valuations, or take calculated risks on emerging technologies before Wall Street catches on.
This week, two speculative plays deserve attention -- not because they're safe, but because their risk-reward profiles have shifted dramatically. AST SpaceMobile (NASDAQ: ASTS) and Rigetti Computing (NASDAQ: RGTI) are attacking trillion-dollar problems with revolutionary solutions, and recent developments suggest the market might be underestimating their potential.
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The anti-Starlink play
While SpaceX dominates headlines with Starlink, AST SpaceMobile is building something potentially more disruptive: satellites that connect directly to unmodified smartphones. No special equipment, no new devices -- just your regular phone connecting to space when terrestrial towers can't reach you. Partners include AT&T, Verizon, Alphabet's Google, and Vodafone, covering billions of potential subscribers through carrier relationships.
The numbers are turning real. AST projects $50 million to $75 million in revenue for the second half of 2025 from government and commercial sources. Six satellites orbit now, with 45 to 60 fully funded birds planned by 2026. The stock has responded accordingly, up 135% year to date.
Wall Street maintains a "buy" consensus with a $49 average 12-month target, barely above current levels. But here's what skeptics miss: AST isn't competing with Starlink. Starlink typically requires dedicated hardware and about $120 monthly for residential service. AST makes your existing phone work everywhere, partnering with carriers rather than competing against them. Different market, different economics.
The risks are real: massive capital requirements, launch risks, regulatory hurdles across jurisdictions. Shares, accordingly, have whipsawed between $20 and $50 this year alone. But for investors who believe ubiquitous connectivity is inevitable, AST offers the most direct play on connecting 2.5 billion unconnected people globally.
A quantum's pure play
Quantum computing promises to solve problems classical computers can't touch -- drug discovery, materials science, cryptography, financial modeling. While IBM, Alphabet, and Microsoft run substantial quantum programs within diversified portfolios, Rigetti lives it as a pure-play hardware company.
The company recently announced what it calls the industry's largest demonstrated multichip quantum system using its chiplet-based architecture, a technical milestone that matters more than quarterly earnings at this stage. Second-quarter numbers were weak: Revenue fell 42% year over year to $1.8 million, and the adjusted loss was $0.13 per share. Yet Quanta Computer invested $35 million, providing validation from a Tier-1 manufacturer.
The bear case writes itself: Commercial quantum computing remains years away, IBM and Alphabet have deeper pockets, and cash burn continues with no clear path to profitability. Revenue could stay minimal while development costs climb. That's exactly why the opportunity exists -- markets hate uncertainty, creating asymmetric upside for those betting on 2030, not 2025.
Two moonshots worth buying and holding
Neither AST nor Rigetti belongs in conservative portfolios. These are conviction plays on transformative technologies that could reshape industries or flame out spectacularly.
AST offers nearer-term catalysts with satellite deployments and targeted intermittent U.S. service in late 2025, alongside a ramp-up in government and commercial revenue. Rigetti requires patience, with payoff potentially years away as quantum computing matures. AST around $48 could be cheap if it captures even 1% of the global mobile market. Rigetti in the mid-teens could be a bargain if quantum delivers on its promise later in the decade.
The key is position sizing -- these are portfolio accelerators, not core holdings. For those embracing the risk, both represent genuine innovation at valuations that don't yet price in success. In a market that often overpays for certainty, mispriced innovation can be rare. AST and Rigetti, in turn, could be stellar bargains for investors willing to take the long view.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

2 High-Powered Growth Stocks to Buy This Week

Investors in AT&T Inc (Symbol: T) saw new options begin trading today, for the April 2026 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 246 days until expiration the newly trading contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the T options chain for the new April 2026 contracts and identified one put and one call contract of particular interest.
The put contract at the $28.00 strike price has a current bid of $1.63. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $28.00, but will also collect the premium, putting the cost basis of the shares at $26.37 (before broker commissions). To an investor already interested in purchasing shares of T, that could represent an attractive alternative to paying $28.61/share today.
Because the $28.00 strike represents an approximate 2% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 59%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 5.82% return on the cash commitment, or 8.64% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for AT&T Inc, and highlighting in green where the $28.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $30.00 strike price has a current bid of $1.51. If an investor was to purchase shares of T stock at the current price level of $28.61/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $30.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 10.14% if the stock gets called away at the April 2026 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if T shares really soar, which is why looking at the trailing twelve month trading history for AT&T Inc, as well as studying the business fundamentals becomes important. Below is a chart showing T's trailing twelve month trading history, with the $30.00 strike highlighted in red:
Considering the fact that the $30.00 strike represents an approximate 5% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 56%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 5.28% boost of extra return to the investor, or 7.83% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example, as well as the call contract example, are both approximately 23%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 250 trading day closing values as well as today's price of $28.61) to be 23%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

April 2026 Options Now Available For AT&T

Below is Validea's guru fundamental report for AT&T INC. (T). Of the 22 guru strategies we follow, T rates highest using our Shareholder Yield Investor model based on the published strategy of Meb Faber. This strategy looks for companies returning cash to shareholders via dividends, buybacks and debt paydown.
AT&T INC. (T) is a large-cap growth stock in the Communications Services industry. The rating using this strategy is 95% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of AT&T INC.
More Information on Meb Faber
About Meb Faber: Meb Faber is the founder of Cambria Investments. His research has covered a wide spectrum of the investment world, including topics like shareholder yield, trend following, global asset allocation and home country bias. His shareholder yield strategy, which is based on his book "Shareholder Yield" and forms the basis for an ETF of the same name, looks for companies that are focused on creating value for shareholders by returning cash to them in the form of dividends, share buybacks and debt paydown. Meb is also the author of 4 other books and numerous white papers on investing related topics.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

T Factor-Based Stock Analysis

AT&T (T) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Shares of this telecommunications company have returned +5.4% over the past month versus the Zacks S&P 500 composite's +3.1% change. The Zacks Wireless National industry, to which AT&T belongs, has gained 5.7% over this period. Now the key question is: Where could the stock be headed in the near term?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate Revisions
Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
For the current quarter, AT&T is expected to post earnings of $0.54 per share, indicating a change of -10% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
The consensus earnings estimate of $2.04 for the current fiscal year indicates a year-over-year change of -9.7%. This estimate has changed +0.8% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $2.24 indicates a change of +9.8% from what AT&T is expected to report a year ago. Over the past month, the estimate has changed -0.1%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, AT&T is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth Forecast
Even though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
For AT&T, the consensus sales estimate for the current quarter of $30.93 billion indicates a year-over-year change of +2.4%. For the current and next fiscal years, $124.87 billion and $126.55 billion estimates indicate +2.1% and +1.4% changes, respectively.
Last Reported Results and Surprise History
AT&T reported revenues of $30.85 billion in the last reported quarter, representing a year-over-year change of +3.5%. EPS of $0.54 for the same period compares with $0.57 a year ago.
Compared to the Zacks Consensus Estimate of $30.53 billion, the reported revenues represent a surprise of +1.02%. The EPS surprise was +5.88%.
Over the last four quarters, AT&T surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.
Valuation
Without considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
AT&T is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom Line
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about AT&T. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is Most-Watched Stock AT&T Inc. (T) Worth Betting on Now?

Investors in AT&T Inc (Symbol: T) saw new options become available today, for the November 21st expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 101 days until expiration the newly available contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the T options chain for the new November 21st contracts and identified the following put contract of particular interest.
The put contract at the $28.00 strike price has a current bid of $1.00. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $28.00, but will also collect the premium, putting the cost basis of the shares at $27.00 (before broker commissions). To an investor already interested in purchasing shares of T, that could represent an attractive alternative to paying $28.47/share today.
Because the $28.00 strike represents an approximate 2% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 60%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 3.57% return on the cash commitment, or 12.90% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for AT&T Inc, and highlighting in green where the $28.00 strike is located relative to that history:
The implied volatility in the put contract example above is 24%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 250 trading day closing values as well as today's price of $28.47) to be 23%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

November 21st Options Now Available For AT&T (T)

Verizon Communications Inc. VZ has gained 6.5% in the past six months compared with the Wireless National industry’s growth of 2.3%. The stock has also outperformed the S&P 500 index during this time period.
Image Source: Zacks Investment Research
The company has underperformed its peers like AT&T Inc. T but outperformed Charter Communications CHTR. Shares of AT&T have gained 10.8%, while Charter shares have declined 27.6% during this period.
VZ’s Key Growth Drivers
Verizon is benefiting from solid momentum in wireless verticals. During the second quarter, the wireless service revenue grew 2.2% year over year to $20.9 billion. The wireless equipment revenue was up by 25.2% year over year to $6.3 billion. The company continues to gain broadband market share with best-in-class fixed wireless access and Fios offerings. Verizon’s broadband net adds were 293K, while fixed wireless access net additions were 278K.
Verizon’s multi-dimensional strategy is driving steady user growth. It is doubling down on fiber broadband expansion across the country. The acquisition of Frontier Communications is set to add 2.2 million fiber customers across 25 states. Verizon’s broadband connections surged 12.2% year over year to 12.9 million during the quarter.
Verizon has been undertaking several steps to augment its brand visibility. The company has formed a strategic collaboration with retail chain Staples. Under this partnership, Verizon Kiosks will be rolled out across 35 Staples stores across key U.S. markets. These kiosks will offer various services such as setting up reliable Internet in customer's home and businesses, free tech consultation, device upgrades and more.
Verizon has steadily expanded its retail footprint over the past few years. But the recent moves suggest that it’s now diversifying its traditional setup of Verizon retail stores. The collaboration with Staples will enable Verizon to tap into Staple’s core customer base, which is small businesses. Such initiatives to boost brand visibility and accessibility among customers augur well for long-term growth.
Key Challenges for Verizon
Verizon has splurged in the C-Band auction, which is offering airwaves in the 3.7 gigahertz-to-4.2 gigahertz area of spectrum to acquire key mid-band spectrum for potential 5G deployments in the next few years. The company also recorded high capital expenditures in order to support the deployment of significant fiber assets across the country and upgrade to the Intelligent Edge Network architecture. It remains unclear if and when a reasonable return can be achieved from such investments.
The intensely competitive and highly saturated nature of the U.S. wireless market is driving up the customer acquisition costs. In a bid to expand its customer base, Verizon is spending heavily on promotion and is also offering lucrative discounts, which are weighing on margins. During the second quarter of 2025, Verizon registered 62,000 Fios Video net losses. This is worrisome.
Other prominent players like AT&T and Charter are also doubling down on fiber network expansion. Charter has pledged to invest $7 billion to add 100,000+ miles of fiber-optic network infrastructure. The company intends to deliver multigigabit and symmetrical Internet services across 1.7 million locations. AT&T is set to acquire Lumen's fiber connectivity business for $5.75 billion. Following the completion of the buyout, AT&T will acquire 1 million fiber customers and 4 million fiber locations across 11 U.S. states. Such initiatives from competitors are expected to bring significant challenges to Verizon’s fiber expansion initiatives.
Estimate Revision Trend of VZ
Earnings estimate for 2025 has increased 0.21% to $4.7 over the past 60 days, while the same for 2026 has improved 1.44% to $4.93.
Image Source: Zacks Investment Research
Key Valuation Metric of VZ
From a valuation standpoint, VZ appears to be trading relatively cheaper compared to the industry and trading below its mean. Going by the price/earnings ratio, the company’s shares currently trade at 8.91 forward earnings, lower than 13.48 for the industry but lower than the stock’s mean of 8.97.
Image Source: Zacks Investment Research
End Note
Verizon is expected to gain from solid demand for wireless services in the near term. The company’s strong focus on customer service and the launch of innovative AI-powered solutions are driving customer growth. Growth in free cash flow highlights efficient capital management. Upward estimate revision underscores growing investors’ confidence. Strong operational execution, combined with favorable tax reforms, is a tailwind for Verizon in 2025.
However, growing competition in the wireless market continues to weigh on margins. Macroeconomic headwinds remain a concern. With a Zacks Rank #3 (Hold), VZ appears to be treading in the middle of the road, and new investors could be better off if they trade with caution. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

AT&T Inc.

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