Core Insights - AT&T has achieved a significant milestone by expanding its fiber broadband network to 30 million locations ahead of schedule, moving towards its goal of 60 million by 2030 [1][8] - The company has invested $145 billion in network expansion from 2020 to 2024, focusing on both wireline and wireless infrastructure [1] - AT&T's customer-oriented approach includes a unique service guarantee that offers bill credits for service downtimes, enhancing customer experience [3] Expansion and Strategy - Since 2020, AT&T has added 5.7 million fiber customers through a multi-faceted strategy that includes improving its existing network, forming public-private partnerships, and strategic acquisitions [2] - The acquisition of Lumen's fiber business will contribute an additional 1 million fiber customers and 4 million locations across 11 states [2] - The company added 261,000 fiber customers in Q1 2025, with projections estimating a total of 1,048,000 net additions by the end of 2025, reflecting a 2.4% year-over-year growth [4] Competitive Landscape - AT&T faces competition from Verizon and Charter Communications in the fiber broadband market [5][6] - Verizon has recorded 41,000 net additions for its Fios Internet service and is set to expand its fiber footprint through the acquisition of Frontier Communications, which has 2.2 million fiber subscribers [5] - Charter Communications is investing $7 billion in a rural construction initiative to add over 100,000 miles of fiber-optic infrastructure, enhancing its competitive position [6] Financial Performance and Estimates - AT&T's stock has increased by 61.4% over the past year, outperforming the Wireless National industry's growth of 31.8% [7] - The company's shares currently trade at a forward price/earnings ratio of 13.25, which is lower than the industry average of 13.65 but above its historical mean of 10.36 [9] - Earnings estimates for 2025 have decreased by 3.27% to $2.07, while estimates for 2026 have declined by 0.88% to $2.24, indicating a downtrend in estimate revisions [10][11]