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AT&T ( NYSE:T ), why am I covering this? This stock was flat today, up three cents is flat to me. With everything else selling off, why was AT&T ( NYSE:T ) so resilient? I think some of it is Apple ( NASDAQ:AAPL ) did sell more than 10 million iPhones over the weekend, I think that's counting Friday, Saturday, and Sunday. That's a lot of iPhones and that's a lot of new accounts, I'd say the lions share maybe, at least those among informed buyers, would be with AT&T ( NYSE:T ) accounts since Verizon ( NYSE:VZ ) pretty much stinks.
I have products with Verizon ( NYSE:VZ ) and AT&T ( NYSE:T ) accounts on them and the AT&T ( NYSE:T ) products virtually always get better reception, which was the opposite of the way it was when the iPhone first came out. If you remember AT&T ( NYSE:T ) was having massive bandwidth problems because of all the people that were on their brand new iPhones and they loved them, they just hated AT&T ( NYSE:T ), so the company's turned it around.
So why am I looking at this stock? Well because it's breaking out here, it's got a dividend that's over 5 percent; I think that you can buy this stock. The real support for this is down around the 200-day moving average, this is not a high momentum trade; I mean what the heck, this is chopping all over the place, but there is room in your portfolio for a stock that's still in a bit of a trading range, is just off the low end of that trading range, and is kicking out a really nice yield.
Also keep something in mind, at the end of this month, that's the end of the third quarter, which means that all these companies, AT&T ( NYSE:T ) being one of them, will be reporting third quarter earnings, and also issuing forward guidance. I would venture a guess that they will be saying something about all the accounts they got with the new iPhone release. I think you can buy this stock right now, collect this dividend, and you're going to be okay.