Telecom giant AT (NYSE: T) is vastly underperforming the S 500 in 2023. With just a few trading days left in the year, AT stock is down nearly 10% year to date while the S 500 has gained 24%.

AT faces its fair share of challenges, including a tough competitive environment, high debt levels, and an uncertain economy. But investors shouldn't let the stock's miserable performance in 2023 push them away. Here's why AT shares could come roaring back in 2024.

AT's core wireless business has slowed down since the pandemic, but the company is still winning subscribers AT a healthy pace. AT reported postpaid phone net adds of 468,000 in Q3 of 2023, an improvement over the first and second quarters.

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Source Fool.com