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Technology Stocks : AT&T -- Ignore unavailable to you. Want to Upgrade?

To: nghi vu who wrote (2421)	5/9/1999 8:18:00 PM
From: Jenne	Read Replies (2) \| Respond to of 4298

AT&T May Be an Inexpensive Internet Stock Play, N.Y. Times Says Bloomberg News May 9, 1999, 1:18 p.m. PT New York, May 9 (Bloomberg) -- AT&T Corp.'s transformation to a technologically advanced communications company from a century-old phone concern could make it a cheap Internet play at 28 times trailing earnings, especially since it has real assets, a seasoned management team and a healthy balance sheet, the New York Times reported in its ''Market Watch'' column. Unlike many technology upstarts, AT&T had $53 billion in revenue last year, $6.4 billion in earnings and it pays a dividend. After having spent $124 billion in acquisitions in the past 18 months, including last week's $58 billion bid for cable television company MediaOne Group Inc. and its earlier $59.4 billion purchase of Tele-Communications Inc., AT&T plans to offer voice, data and Internet services over a broadband cable network -- a vision that's made AT&T the kind of technology stock day traders on the Internet favor, the paper said. While AT&T's stock fell 1 1/2 to 60 7/16 on Friday, it's up almost 20 percent so far this year. (NYT 5/9 3-1 www.nytimes.com)