At a 30-Year Low, Is AT&T a Buy?

When a mega-cap stock is sitting on a 30-year low, I can’t help but look.

That’s the case today with AT&T (T).

The last time AT&T’s stock was around $14 a share, Bill Clinton was president, the internet was still in its infancy, and Jurassic Park was the most popular film in the country.

AT&T investors have made some money over that time frame—the company has paid out tons of cash in dividends—but the stock itself has been totally flat.

AT&T Inc

Now, there’s a lot going on in telecom today—from lead cable issues to competition to high debt levels.

So, is this an amazing contrarian buying opportunity sitting right in front of us?