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AT&T Sees Slowdown in Wireless, Sending Stock to 12-Year Low

Photographer: Christopher Lee/Bloomberg
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AT&T Inc. shares hit a 12-year low Tuesday after Jeff McElfresh, the company’s chief executive officer of communications, told investors at a conference that he expects customer growth to slow in 2022.

The surge in new customers this year, fueled in part by free phone offers and slightly higher consumer spending, will probably cool off next year, McElfresh said at the event hosted by Wells Fargo & Co.