Is AT&T Worth Buying as Fiber Growth Offsets Rising Leverage Risks?

AT&T Inc. T is pairing faster fiber and wireless growth with a balance sheet that became more leveraged after its EchoStar spectrum purchase. Third-quarter 2026 results showed that the core connectivity strategy is gaining traction, but the investment case is not one-sided. The question for investors is whether improving service revenues, a modest valuation and shareholder returns provide enough compensation for legacy declines, higher interest costs and a longer deleveraging path. AT&T's Fiber Expansion Strengthens the Growth Case AT&T added more than 1 million Advanced Connectivity customers in the third quarter, including 769,000 Internet net additions across consumer and business accounts.