A typical Fortune 100 corporation has a Price / Earnings ratio of 15 to 20. AT&T is selling for a third of that! Word has gotten out about what a poorly managed business this is.
Due to incompetent leadership, this corporation is rotting from the inside out. Leadership is loading this company up with tremendous levels of debt to make poorly thought out acquisitions while abandoning the companie's core businesses. A leveraged-buyout scammer couldn't do a better job of destroying a company than AT&T's top leadership has!
And now, to pay for these irresponsible acquisitions, leadership is laying off essential, highly experienced workers en masse.
Sometimes cheap stocks are a good investment. In this case, however, there is a very good reason
the stock loses value year after year.