The weakness today from shares of Verizon (VZ) and AT&T (T) today is pronounced and showing signs of acceleration, especially AT&T. Both companies had strong performance over the last three years, and the iPhone no doubt contributed to their strength. While I am by no means calling for a top in either name, it’s worth noting their weakness recently.
Be cautious of a flush lower in both names over the next few weeks.
In regard to $T, technically, I would agree…it looks like crap. That said, at what point does the dividend yield become attractive?
It would at 5.5% at 32…I would (and will) be a buyer anywhere down there to lock in that kind of yield.
Really good point, and that kind of yield may attract investors soon.