Time To Buy This 5G Stock – It’s Cheap And Pays A 7% Yield

Looking for a dividend growth stock that offers a market-smashing yield of near 7%? Want some growth on top of that huge yield? Would you like to be at the center of two megatrends?

AT&T Inc. - stock ticker T - is a multinational media conglomerate that provides communications and digital entertainment services in the US and internationally, and possibly one of the best stocks to buy now. Co-founded by Alexander Graham Bell in 1885, AT&T is now a $216 billion (by market cap) media juggernaut that employs almost 250,000 people. FY 2020 operating revenue breaks down across the following reportable segments: Communications, 79%; WarnerMedia, 17%; and Latin America, 3%.

Their largest segment, Communications, provides wireless and wireline telecom, video, and broadband services to millions of consumers. They're one of the largest telecom companies in the world. If that's all they were, it'd be impressive - smartphones are almost an additional appendage at this point, and mobile communications/data is practically as important as electricity now. But they have a very significant media business on top of it. WarnerMedia, through major properties Turner, Home Box Office, and Warner Bros., develops, produces, and distributes feature films, television content, and other digital content across a variety of platforms.

Streaming has never been more important for both companies and consumers than it is now, especially after the pandemic struck in 2020. More people than ever before are streaming content. That bodes well for AT&T in two ways. First, there's the increased demand for broadband, which they offer across both wireless and wired connections. Streaming only serves to bolster that demand. And with 5G just now rolling out and AT&T set to become a major 5G provider, AT&T's position will strengthen.

Second, now acting as a major streaming player, they have a growing audience and huge addressable market for content production and distribution. If there was ever a time to jump into streaming with full force, it's now. That's exactly what AT&T is doing.

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