I Do Not Expect AT&T To Move Up Much More In Early 2013
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
AT&T (T) started a turn up but I believe the pessimistic earnings season will keep the stock from really moving much farther in early 2013. It did have a good fourth quarter but I am not sure if that will be enough to lift the stock out of the beginning of a trading channel.
Will smartphone sales lift the company's stock? AT&T set a new record for sales for the fourth quarter that was previously set in 2011 when the company sold 9.4 million smartphones. This quarter it sold 10 million. Is this something that can be attributed to the company's popularity? I do not think so. Not only is the use of smartphones growing but Verizon (VZ) also had a record quarter, so I do not believe it is something investors can read into. It may be nothing more than the positive growth of the smartphone industry. READ FULL ARTICLE HERE