this post was submitted on 18 Jul 2023
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AT&T stock fell to 29-year low on Friday and sank another 6.7% today (arstechnica.com)
submitted 2 years ago by PopBobert@lemmy.world to c/technology@lemmy.world
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AT&T's stock price hit a 29-year low on Friday and continued to sink today as investors fled telecom stocks on reports that cleanups of lead-covered telephone cables could cost the industry tens of billions of dollars.

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[–] lortikins@lemmy.world 32 points 2 years ago

However will they afford this?

New Street Research estimated that remediation could cost the telecom industry $60 billion

At&T alone had 120 billion in revenue in 2022 which was a bad year for them but God forbid we penalize a corporation, they're job CREATORS don't you know?