In the meantime, nimbler rival T-Mobile (NASDAQ: TMUS) is out there doing the Macarena with market share gains in the wireless sector. Now, as the economy gradually shakes off the chill of the 2022 inflation crisis, investors are left with a conundrum: Is AT&T a discounted gem ready to shine or a financial house of cards under catastrophic pressure? Bull case: This beaten-down telecom is underestimated Keith Noonan: Despite a bullish rally for the broader market in 2023, AT&T's share price has slid roughly 17% year to date.