There are lots of recommendations to buy VZ and AT&T from many value investors esp. the dividend seekers. I was quite shocked to see that Buffett invested in VZ but then he seems to have exited it fairly quickly.

VZ is down 37% over the last 10 years, so even the dividends didn't help.

They have to do massive capital spending just to stay in place. Before they have begin to recoup spending for the current G, they have to up the spending for the next G. The big internet and social media companies like Amazon, Alphabet and Meta are the beneficiaries from their spending.

Even though the mobile network companies are an oligopoly, they don't seem to have any pricing power. Unlike regulated utilities which are guaranteed a reasonable return for their investment.

About the only thing to recommend VZ is that they are not AT&T, which is down 50% in the last 10 years and is trading at mid 1990s prices.

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