Despite AT&T, Verizon Rally, Wireless Outlook Hard to Assess, Moffett Says

As Treasury yields have declined since early August, it's no surprise AT&T and Verizon stock rose, MoffettNathanson’s Craig Moffett told investors Tuesday. Moffett said the outlook for the wireless sector as a whole remains uncertain. “What, exactly, is the prevailing narrative of the wireless industry at the moment?” Moffett asks: “Two years ago, it was clear. The industry was still in the late stages of a price war, and there was broad consensus that things were, well, ‘bad.’ One year ago, the wireless industry was ‘improving,’ and there was broad consensus that competitive intensity was ‘moderate.’ There is no similarly clear narrative today.”