<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/main/13/203.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="635" height="400" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/main/13/203.jpg"/></p>
<p><em>图片来源: Bigstock</em></p>
<h3><strong>关键要点</strong></h3>
<ul>
<li>AT&amp;T 发布了用户和光纤增长，通过 Echo Star 频谱整合扩展其 5G 容量。</li>
<li>尽管宽带表现强劲，康卡斯特在其住宅连接与平台业务中面临收入压力。</li>
<li>此外，AT&amp;T 受益于 5G 建设、光纤增加以及旨在提升用户体验和效率的人工智能工具。</li>
</ul>
<p>AT&amp;T 公司（T - 免费报告）和康卡斯特公司（CMCSA - 免费报告）是电信行业的主要参与者。推动美国电信市场增长的因素有很多，例如 5G 采用、光纤扩展和不断增长的移动数据流量。</p>
<p>根据 Research and Markets 的报告，预计美国电信市场在 2024 年至 2029 年间将实现 6.8% 的年均复合增长率。凭借深厚的行业经验，AT&amp;T 和康卡斯特在竞争激烈的美国电信行业中占据了强大的立足点。让我们深入分析这两家公司在竞争中的优势和劣势，以了解哪家公司更有可能从新兴市场趋势中获得最大收益。</p>
<h3><strong>AT&amp;T 的优势</strong></h3>
<p>AT&amp;T 在通信领域受益于强劲的势头。在第三季度，该公司的服务收入有所改善，得益于用户的稳健增长。非电话销售和高价电话销售的增加推动了设备收入的增长。</p>
<p>AT&amp;T 在本季度录得净光纤新增用户 288,000，而 Internet Air 新增用户 270,000。光纤宽带业务的持续增长推动了消费者固定网络业务的发展。</p>
<p>AT&amp;T 正在迅速扩展其全国 5G 基础设施。该公司已在约 23,000 个基站快速部署了来自 Echo Star 的中频段频谱。这将确保在 48 个州的 5,300 个城市中为客户提供显著的速度和容量提升。来自 Echo Star 的频谱整合使移动下载速度提高了 80%，而 AT&amp;T Internet Air 用户的下载速度提高了 55%。</p>
<p>收购 Echo Star 是 AT&amp;T 的明智之举，因为这消除了为了提升网络容量而进行资本密集型基站建设的需求。这种网络容量的提升将使 AT&amp;T 能够满足流媒体、游戏、云服务和各种人工智能应用等高级应用的需求。此外，网络的增强也将支持第一响应者，因为 FirstNet 客户也将获得 AT&amp;T 商业频谱的访问权限。</p>
<p>该公司还积极致力于整合人工智能，以提高其运营效率。Ask AT&amp;T Workflows 是一款新开发的人工智能代理工具，能够处理客户服务更新请求，跨系统同步数据，并实时自动安装信息。这些人工智能工具可以通过减少等待时间并让员工专注于高优先级工作，显著改善最终用户的体验。对资源优化的日益重视可能对公司的盈利能力和现金流产生积极影响。</p>
<p>然而，该公司面临来自其他行业领导者的激烈竞争，如 Verizon Communications, Inc.（VZ - 免费报告）、T-Mobile、康卡斯特等。Verizon 正在稳步扩大其光纤覆盖，这影响了 AT&amp;T 的光纤扩展计划。然而，凭借强大的基础、对客户服务的关注和利润率的改善，AT&amp;T 有能力获得竞争优势。</p>
<h3><strong>康卡斯特的优势</strong></h3>
<p>康卡斯特主要专注于宽带互联网和家庭 WiFi。该公司通过住宅连接与平台部门提供住宅宽带服务、无线连接服务和商业视频服务。该部门的收入在第三季度同比下降了 1.5%。下降主要是由于视频和广告业务的疲软。下降趋势部分被国内宽带、国内无线和国际连接业务的强劲表现所抵消。</p>
<p>康卡斯特通过集成连接和无线融合建立了差异化的市场地位。该公司拥有强大的宽带基础设施，提供无缝的捆绑服务，将互联网、无线和娱乐结合在统一的定价结构下。康卡斯特 Xfinity 是该国广泛可用的宽带服务之一。其混合光纤同轴（HFC）网络提供了扩展网络覆盖和容量所需的灵活性和可扩展性。</p>
<p>该公司的 DOCSIS 3.1 技术为住宅和商业客户提供千兆以上的下行宽带速度。它还积极推出 DOCSIS 4.0 技术，使公司能够在现有 HFC 网络上提供多千兆对称宽带速度。专注于核心网络的虚拟化和自动化以提升运营效率是一个有利因素。</p>
<p>然而，由于来自其他宽带提供商（如 AT&amp;T 和 Verizon）的竞争加剧，该公司在住宅连接与平台业务中正面临下行趋势。AT&amp;T 最近在美国新增了 1000 万光纤互联网用户。预计在 2026 年初完成的 Lumen 的大众市场光纤业务收购将增加 100 万光纤客户和 400 万光纤地点，覆盖 11 个美国州。</p>
<p>该公司有望在 2026 年底之前达到 6000 万个光纤地点。Verizon 也在积极扩展其全国光纤基础设施。这些因素可能进一步加剧竞争，阻碍康卡斯特的增长前景。</p>
<h3><strong>Zacks 对康卡斯特和 AT&amp;T 的估计比较如何？</strong></h3>
<p>Zacks 对 AT&amp;T 2025 年销售额的共识估计显示同比增长 2.14%，而每股收益（EPS）则显示同比下降 8.85%。过去 60 天的每股收益估计呈上升趋势。</p>
<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/de/136665.jpg/query-dj03NjI0OTYyODQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="411" height="233" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/de/136665.jpg/query-dj03NjI0OTYyODQ"/></p>
<p><em>图片来源：Zacks 投资研究</em></p>
<p>Zacks 共识估计显示，康卡斯特 2025 年的销售额预计同比下降 0.07%，每股收益（EPS）预计同比下降 3.46%。在过去 60 天中，EPS 的预期一直在下降。</p>
<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/7a/136666.jpg/query-dj02ODg2MjE2OTQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="412" height="243" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/7a/136666.jpg/query-dj02ODg2MjE2OTQ"/></p>
<p><em>图片来源：Zacks 投资研究</em></p>
<h3><strong>康卡斯特与美国电话电报的价格表现与估值</strong></h3>
<p>在过去一年中，美国电话电报上涨了 4.1%，而康卡斯特下跌了 31.4%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/d1/136637.jpg/query-dj0xODM1NTc0MjQ3?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="620" height="272" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/d1/136637.jpg/query-dj0xODM1NTc0MjQ3"/></p>
<p><em>图片来源：Zacks 投资研究</em></p>
<p>从估值角度来看，康卡斯特可能比美国电话电报更具吸引力。根据市盈率，康卡斯特的股票最近以 6.72 的前瞻性收益交易，低于美国电话电报的 10.79。</p>
<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/c8/136640.jpg/query-dj00ODg5NzE5MjE?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="620" height="159" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/c8/136640.jpg/query-dj00ODg5NzE5MjE"/></p>
<p><em>图片来源：Zacks 投资研究</em></p>
<h3><strong>结束语</strong></h3>
<p>目前，美国电话电报和康卡斯特均持有 Zacks 评级#3（持有）。</p>
<p>美国电话电报和康卡斯特都在积极扩展其网络基础设施，以推动用户增长。康卡斯特的 DOCSIS 4.0 部署是一个积极因素。然而，预期修正的下行趋势突显出投资者对康卡斯特增长潜力的信心减弱。</p>
<p>美国电话电报也在通过战略收购和基础设施扩展迅速扩大其光纤覆盖范围。此外，美国电话电报提升 5G 网络容量和人工智能整合以增强客户服务和优化资源的举措，对长期增长有利。随着预期上调和更好的股价表现，美国电话电报目前似乎是更好的投资选择。</p>
<hr/>
<p><em>更多来自此作者的文章：</em></p>
<p>Lululemon 的股票在强劲的第三季度业绩后会继续反弹吗？</p>
<p>博通是第四季度财报临近时最值得购买的芯片股票吗？</p>
<p>收购和合作是否推动了万事达卡的长期增长？</p>

美国电话电报

康卡斯特

<p>AT&T 和康卡斯特是美国电信市场的关键参与者，受益于 5G 的普及、光纤扩展和移动数据流量的增长。AT&T 正在扩大其 5G 容量并整合人工智能工具，而康卡斯特则专注于宽带和家庭 WiFi。两者都面临来自 Verizon 等公司的竞争。预计美国电信市场将在 2024 年至 2029 年间以 6.8% 的年均增长率增长</p>

<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/main/13/203.jpg" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/main/13/203.jpg"/></p>
<p><em>Image: Bigstock</em></p>
<div class="lb-trans"><p><em>图片来源: Bigstock</em></p>
</div><h3><strong>Key Takeaways</strong></h3>
<div class="lb-trans"><h3><strong>关键要点</strong></h3>
</div><ul>
<li>AT&amp;T posts subscriber and fiber gains, expanding its 5G capacity through the Echo Star spectrum integration.</li>
<li>Comcast faces revenue pressure in its Residential Connectivity &amp; Platforms despite broadband strength.</li>
<li>Additionally, AT&amp;T benefits from 5G build-out, fiber additions, and AI tools aimed at boosting user experience and efficiency.</li>
</ul>
<div class="lb-trans"><ul>
<li>AT&amp;T 发布了用户和光纤增长，通过 Echo Star 频谱整合扩展其 5G 容量。</li>
<li>尽管宽带表现强劲，康卡斯特在其住宅连接与平台业务中面临收入压力。</li>
<li>此外，AT&amp;T 受益于 5G 建设、光纤增加以及旨在提升用户体验和效率的人工智能工具。</li>
</ul>
</div><p>AT&amp;T Inc. (T - Free Report) and Comcast Corporation (CMCSA - Free Report) are prominent players in the telecommunications sector. There are multiple factors that are driving growth in the U.S. telecom market, such as 5G adoption, fiber expansion, and growing mobile data traffic.</p>
<div class="lb-trans"><p>AT&amp;T 公司（T - 免费报告）和康卡斯特公司（CMCSA - 免费报告）是电信行业的主要参与者。推动美国电信市场增长的因素有很多，例如 5G 采用、光纤扩展和不断增长的移动数据流量。</p>
</div><p>Per a report by Research and Markets, the U.S. telecom market is expected to witness a 6.8% compound annual growth rate between 2024 and 2029. With deep industry acumen, both AT&amp;T and Comcast hold a strong foothold in the highly competitive U.S. telecom sector. Let's analyze the competitive strengths and weaknesses of the companies in depth to understand which is better positioned to maximize gains from the emerging market trends.</p>
<div class="lb-trans"><p>根据 Research and Markets 的报告，预计美国电信市场在 2024 年至 2029 年间将实现 6.8% 的年均复合增长率。凭借深厚的行业经验，AT&amp;T 和康卡斯特在竞争激烈的美国电信行业中占据了强大的立足点。让我们深入分析这两家公司在竞争中的优势和劣势，以了解哪家公司更有可能从新兴市场趋势中获得最大收益。</p>
</div><h3><strong>The Case for AT&amp;T</strong></h3>
<div class="lb-trans"><h3><strong>AT&amp;T 的优势</strong></h3>
</div><p>AT&amp;T is benefiting from solid momentum in the communications segment. In the third quarter, the company’s service revenues improved, backed by solid subscriber gains. Higher volumes of non-phone sales and higher-priced phone sales are driving equipment revenues.</p>
<div class="lb-trans"><p>AT&amp;T 在通信领域受益于强劲的势头。在第三季度，该公司的服务收入有所改善，得益于用户的稳健增长。非电话销售和高价电话销售的增加推动了设备收入的增长。</p>
</div><p>AT&amp;T recorded net fiber additions of 288,000, while Internet Air added 270,000 subscribers during the quarter. The consistent gain in the fiber broadband business is driving growth in the Consumer Wireline aspect.</p>
<div class="lb-trans"><p>AT&amp;T 在本季度录得净光纤新增用户 288,000，而 Internet Air 新增用户 270,000。光纤宽带业务的持续增长推动了消费者固定网络业务的发展。</p>
</div><p>AT&amp;T is rapidly expanding its 5G infrastructure nationwide. The company has rapidly deployed mid-band spectrum from Echo Star at around 23,000 cell sites. This will ensure a significant increase in speed and capacity for customers in 5,300 cities across 48 states. The integration of the spectrum from Echo Star has improved download speed for mobility by 80%, while it has improved 55% for AT&amp;T Internet Air users.</p>
<div class="lb-trans"><p>AT&amp;T 正在迅速扩展其全国 5G 基础设施。该公司已在约 23,000 个基站快速部署了来自 Echo Star 的中频段频谱。这将确保在 48 个州的 5,300 个城市中为客户提供显著的速度和容量提升。来自 Echo Star 的频谱整合使移动下载速度提高了 80%，而 AT&amp;T Internet Air 用户的下载速度提高了 55%。</p>
</div><p>The acquisition of Echo Star is a smart move from AT&amp;T as it eliminates the requirement of capital-intensive construction of cell sites to boost network capacity. This network capacity enhancement will allow AT&amp;T to meet the requirements of advanced applications such as streaming, gaming, cloud services, and various AI use cases. Along with this, the network boost will also support first responders, as the FirstNet customers will also get access to AT&amp;T commercial spectrum.</p>
<div class="lb-trans"><p>收购 Echo Star 是 AT&amp;T 的明智之举，因为这消除了为了提升网络容量而进行资本密集型基站建设的需求。这种网络容量的提升将使 AT&amp;T 能够满足流媒体、游戏、云服务和各种人工智能应用等高级应用的需求。此外，网络的增强也将支持第一响应者，因为 FirstNet 客户也将获得 AT&amp;T 商业频谱的访问权限。</p>
</div><p>The company is also actively working to integrate AI to enhance efficiency across its operations. Ask AT&amp;T Workflows is a newly developed AI agent tool that takes customer service update requests, synchronizes data across systems, and auto-installs information in real time. The AI tools can significantly improve end users’ experience by reducing wait times and allowing employees to focus on high-priority work. Such growing emphasis on resource optimization can have a positive impact on the company’s profitability and cash flow.</p>
<div class="lb-trans"><p>该公司还积极致力于整合人工智能，以提高其运营效率。Ask AT&amp;T Workflows 是一款新开发的人工智能代理工具，能够处理客户服务更新请求，跨系统同步数据，并实时自动安装信息。这些人工智能工具可以通过减少等待时间并让员工专注于高优先级工作，显著改善最终用户的体验。对资源优化的日益重视可能对公司的盈利能力和现金流产生积极影响。</p>
</div><p>However, the company faces stiff competition from other industry leaders, such as Verizon Communications, Inc. (VZ - Free Report), T-Mobile, Comcast, and others. Verizon is steadily expanding its fiber footprint, which affects AT&amp;T’s fiber expansion initiatives. However, with a strong foundation, focus on customer service, and margin improvement, AT&amp;T is well equipped to gain a competitive edge.</p>
<div class="lb-trans"><p>然而，该公司面临来自其他行业领导者的激烈竞争，如 Verizon Communications, Inc.（VZ - 免费报告）、T-Mobile、康卡斯特等。Verizon 正在稳步扩大其光纤覆盖，这影响了 AT&amp;T 的光纤扩展计划。然而，凭借强大的基础、对客户服务的关注和利润率的改善，AT&amp;T 有能力获得竞争优势。</p>
</div><h3><strong>The Case for Comcast</strong></h3>
<div class="lb-trans"><h3><strong>康卡斯特的优势</strong></h3>
</div><p>Comcast is primarily focused on broadband Internet and in-home WiFi. The company offers residential broadband services, wireless connectivity services, and business video services through the Residential Connectivity &amp; Platforms segment. Revenues from this segment decreased 1.5% year-over-year in the third quarter. The decline was primarily induced by weakness in the video and advertising business. The declining trend is partially offset by strength in domestic broadband, domestic wireless, and international connectivity business.</p>
<div class="lb-trans"><p>康卡斯特主要专注于宽带互联网和家庭 WiFi。该公司通过住宅连接与平台部门提供住宅宽带服务、无线连接服务和商业视频服务。该部门的收入在第三季度同比下降了 1.5%。下降主要是由于视频和广告业务的疲软。下降趋势部分被国内宽带、国内无线和国际连接业务的强劲表现所抵消。</p>
</div><p>Comcast has established a differentiated market position through integrated connectivity and wireless convergence. The company boasts a robust broadband infrastructure to offer seamless bundled services combining Internet, wireless, and entertainment under unified pricing structures. Comcast Xfinity is one of the widely accessible broadband services in the country. Its Hybrid Fiber-Coaxial (HFC) network provides the required flexibility and scalability to expand network coverage and capacity.</p>
<div class="lb-trans"><p>康卡斯特通过集成连接和无线融合建立了差异化的市场地位。该公司拥有强大的宽带基础设施，提供无缝的捆绑服务，将互联网、无线和娱乐结合在统一的定价结构下。康卡斯特 Xfinity 是该国广泛可用的宽带服务之一。其混合光纤同轴（HFC）网络提供了扩展网络覆盖和容量所需的灵活性和可扩展性。</p>
</div><p>The company’s DOCSIS 3.1 technology facilitates gigabit-plus downstream broadband speeds to residential and business customers. It is also actively rolling out DOCSIS 4.0 technology, which is allowing the company to deliver multigigabit symmetrical broadband speeds over the existing HFC network. Focus on virtualization and automation of the core network to boost operational efficiency is a tailwind.</p>
<div class="lb-trans"><p>该公司的 DOCSIS 3.1 技术为住宅和商业客户提供千兆以上的下行宽带速度。它还积极推出 DOCSIS 4.0 技术，使公司能够在现有 HFC 网络上提供多千兆对称宽带速度。专注于核心网络的虚拟化和自动化以提升运营效率是一个有利因素。</p>
</div><p>However, the company is witnessing a downtrend in the Residential Connectivity &amp; Platforms due to growing competition from other broadband providers such as AT&amp;T and Verizon. AT&amp;T recently added 10 million fiber Internet customers in the United States. The acquisition of Lumen’s Mass Markets fiber business, which is expected to close in early 2026, will add 1 million fiber customers and 4 million fiber locations across 11 U.S. states.</p>
<div class="lb-trans"><p>然而，由于来自其他宽带提供商（如 AT&amp;T 和 Verizon）的竞争加剧，该公司在住宅连接与平台业务中正面临下行趋势。AT&amp;T 最近在美国新增了 1000 万光纤互联网用户。预计在 2026 年初完成的 Lumen 的大众市场光纤业务收购将增加 100 万光纤客户和 400 万光纤地点，覆盖 11 个美国州。</p>
</div><p>The company is well-positioned to reach 60 million total fiber locations by the end of 2026. Verizon is also actively expanding its fiber infrastructure nationwide. These factors can further intensify competition and impede Comcast’s growth prospects.</p>
<div class="lb-trans"><p>该公司有望在 2026 年底之前达到 6000 万个光纤地点。Verizon 也在积极扩展其全国光纤基础设施。这些因素可能进一步加剧竞争，阻碍康卡斯特的增长前景。</p>
</div><h3><strong>How Do Zacks Estimates Compare for Comcast &amp; AT&amp;T?</strong></h3>
<div class="lb-trans"><h3><strong>Zacks 对康卡斯特和 AT&amp;T 的估计比较如何？</strong></h3>
</div><p>The Zacks Consensus Estimate for AT&amp;T’s 2025 sales indicates growth of 2.14% year-over-year, while EPS implies a decline of 8.85% year-over-year. The EPS estimates have been trending upward over the past 60 days.</p>
<div class="lb-trans"><p>Zacks 对 AT&amp;T 2025 年销售额的共识估计显示同比增长 2.14%，而每股收益（EPS）则显示同比下降 8.85%。过去 60 天的每股收益估计呈上升趋势。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/de/136665.jpg/query-dj03NjI0OTYyODQ" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/charts/de/136665.jpg?v=762496284"/></p>
<p><em>Image Source: Zacks Investment Research</em></p>
<div class="lb-trans"><p><em>图片来源：Zacks 投资研究</em></p>
</div><p>The Zacks Consensus Estimate for Comcast’s 2025 sales indicates a decline of 0.07% year-over-year, while EPS is projected to decline 3.46% year-over-year. The EPS estimates have been trending southward over the past 60 days.</p>
<div class="lb-trans"><p>Zacks 共识估计显示，康卡斯特 2025 年的销售额预计同比下降 0.07%，每股收益（EPS）预计同比下降 3.46%。在过去 60 天中，EPS 的预期一直在下降。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/7a/136666.jpg/query-dj02ODg2MjE2OTQ" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/charts/7a/136666.jpg?v=688621694"/></p>
<p><em>Image Source: Zacks Investment Research</em></p>
<div class="lb-trans"><p><em>图片来源：Zacks 投资研究</em></p>
</div><h3><strong>Price Performance &amp; Valuation of Comcast &amp; AT&amp;T</strong></h3>
<div class="lb-trans"><h3><strong>康卡斯特与美国电话电报的价格表现与估值</strong></h3>
</div><p>Over the past year, AT&amp;T has gained 4.1%, while Comcast has declined 31.4%.</p>
<div class="lb-trans"><p>在过去一年中，美国电话电报上涨了 4.1%，而康卡斯特下跌了 31.4%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/d1/136637.jpg/query-dj0xODM1NTc0MjQ3" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/charts/d1/136637.jpg?v=1835574247"/></p>
<p><em>Image Source: Zacks Investment Research</em></p>
<div class="lb-trans"><p><em>图片来源：Zacks 投资研究</em></p>
</div><p>Comcast may look more attractive than AT&amp;T from a valuation standpoint. Going by the price/earnings ratio, Comcast’s shares have recently been trading at 6.72 forward earnings, which is lower than the 10.79 reading for AT&amp;T.</p>
<div class="lb-trans"><p>从估值角度来看，康卡斯特可能比美国电话电报更具吸引力。根据市盈率，康卡斯特的股票最近以 6.72 的前瞻性收益交易，低于美国电话电报的 10.79。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/c8/136640.jpg/query-dj00ODg5NzE5MjE" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/charts/c8/136640.jpg?v=488971921"/></p>
<p><em>Image Source: Zacks Investment Research</em></p>
<div class="lb-trans"><p><em>图片来源：Zacks 投资研究</em></p>
</div><h3><strong>End Note</strong></h3>
<div class="lb-trans"><h3><strong>结束语</strong></h3>
</div><p>AT&amp;T and Comcast both carry a Zacks Rank #3 (Hold) rating at the moment.</p>
<div class="lb-trans"><p>目前，美国电话电报和康卡斯特均持有 Zacks 评级#3（持有）。</p>
</div><p>Both AT&amp;T and Comcast are actively expanding their network infrastructure to drive subscriber growth. Comcast's DOCSIS 4.0 deployment is a positive factor. However, a downtrend in estimate revision underscores dwindling investors’ confidence in Comcast’s growth potential.</p>
<div class="lb-trans"><p>美国电话电报和康卡斯特都在积极扩展其网络基础设施，以推动用户增长。康卡斯特的 DOCSIS 4.0 部署是一个积极因素。然而，预期修正的下行趋势突显出投资者对康卡斯特增长潜力的信心减弱。</p>
</div><p>AT&amp;T is also rapidly expanding its fiber footprint with strategic acquisitions and infrastructure expansion. Moreover, AT&amp;T’s initiative to boost 5G network capacity and AI integration to enhance customer service and optimize resources bodes well for long-term growth. With upward estimate revisions and a better stock price performance, AT&amp;T appears to be the better investment option right now.</p>
<div class="lb-trans"><p>美国电话电报也在通过战略收购和基础设施扩展迅速扩大其光纤覆盖范围。此外，美国电话电报提升 5G 网络容量和人工智能整合以增强客户服务和优化资源的举措，对长期增长有利。随着预期上调和更好的股价表现，美国电话电报目前似乎是更好的投资选择。</p>
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美国电话电报与康卡斯特：你应该选择押注哪只电信股票？