Comcast Stock Undervalued? LOL…
First Eagle Global Fund thinks so according to Bloomberg.
Comcast has dropped by more than 25 percent in Nasdaq Stock Market trading since mid-October as subscriber growth missed estimates and home sales slumped. Federal Communications Commission Chairman Kevin Martin has enacted rules that may limit Comcast’s growth.
I am a Comcast subscriber for TV and internet – but I won’t be for long. Fios cable hangs in front of my house, and as soon as the fiber is lit, I’m switching. Here’s why.
1. The bill – Comcast rates have gone up by around 10% every year. Add in the cost of the high speed internet, which has become a necessity, and our monthly bill is… embarrassing.
2. The service – Outages are infrequent, but seem to come at a movie’s climax or during the last four minutes of the football game you are watching. The quality of the picture on some channels is absolutely terrible. In our area CBS is particularly bad and almost unwatchable. Comcast has been out twice and never managed to fix it.
3. The attitude – I’m sick of the constant dissing of Direct TV or “the big old expensive phone company.” I’ve seen Direct TV’s picture, and it’s clearer and sharper than Comcast’s. As for the phone company’s fees, compare your Comcast bill to your phone bill. See any difference? Me neither.
The negative ads are so repetitive that after awhile you begin to wonder just what Comcast is afraid of. If Comcast is so much better, why doesn’t its service speak for itself?
Maybe it is because it can’t: Search Google and you’ll see that nothing I’ve written is new. Comcast has had a monopoly on cable, and has tried taking on the phone company. Now Verizon has strung fiber and is peeling away customers like me who are fed up with the big bill, the bad service, and the rude attitude.
Maybe investors have begun to realize that basics matter, like good service, and a quality inexpensive product. If so First Eagle is going to get plucked.
Leave a comment