AMX vs T: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: T is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. AMX and T share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined AMX and T exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

America Movil, S.A.B. de C.V. (AMX) is the largest telecommunications company in Latin America, headquartered in Mexico City and controlled by the Slim family. It provides wireless service under the Telcel brand in Mexico and the Claro brand across most of Latin America, alongside fixed-line telephone, broadband, and pay-TV services (including Telmex in Mexico) and enterprise and cloud solutions. As of the end of 2025 the company served roughly 331 million wireless subscribers and about 79 million fixed revenue-generating units across markets spanning Mexico, Brazil, Colombia, Argentina, the Andean and Central American regions, the Caribbean, and several countries in Central and Eastern Europe. The US-listed security is an ADR that trades on the NYSE and represents a block of the company's underlying Mexican shares.

Full AMX guide

AT&T Inc. is a US telecommunications giant whose core business is wireless connectivity through its Mobility unit, which serves tens of millions of postpaid phone customers, alongside a growing consumer wireline business centered on fiber and fixed-wireless home internet. It also runs a business wireline and connectivity segment serving enterprises. After a costly detour into media (the WarnerMedia acquisition and later spinoff) and pay-TV, AT&T has deliberately simplified back into a pure connectivity company, selling its remaining DirecTV stake to TPG and reinvesting in network infrastructure. Its revenue comes mainly from recurring monthly service plans, which makes results relatively steady but slow-growing.

Full T guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• AMX drivers: Postpaid and data-led revenue growth; Free cash flow and deleveraging.
• T drivers: Fiber and fixed-wireless expansion; Steady wireless service revenue.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The dominant risk is currency: most revenue is earned in Latin American currencies while the ADR and dividend are in US dollars, so a strong Mexican peso or weak regional currencies can swing reported earnings, as a currency-driven EPS miss in early 2026 showed. For T, the largest risk is debt: AT&T carries well over $130 billion in total debt, so higher-for-longer interest rates raise refinancing costs and limit flexibility.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick AMX if you believe its drivers more; T if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the AMX and T guides.

AMX. America Movil trades at a mid-teens earnings multiple, roughly in line with large telecom peers and below high-growth tech. Reported figures are dominated by the Mexican peso conversion, so US-dollar ADR results can move even when local-currency operations are stable. Free cash flow rose meaningfully in 2025 while net debt fell, supporting the dividend and buybacks.

T. These figures are approximate and tied to the asOf date; verify live numbers before acting. AT&T is valued like a mature, income-oriented telecom, so the dividend yield, free cash flow, and debt trajectory matter more than headline growth. A low multiple can reflect slow growth and heavy leverage rather than a bargain, so weigh the yield against the balance sheet.

Headline figures (approximate, July 2026): AMX shows revenue (2025) ~Ps.944 billion (~$50 billion USD), net profit (2025) ~Ps.88 billion (~$4.6 billion USD), wireless subscribers ~331 million, market cap ~$75-80 billion; T shows revenue trend Low-single-digit growth; Q1 2026 revenue ~$31.5 billion, up ~2.9% year over year, led by wireless and fiber, profitability Adjusted EPS rose ~12% in Q1 2026; full-year adjusted EPS guided to roughly $2.25 to $2.35; adjusted EBITDA growth ~3 to 4%, balance sheet / leverage High debt, well over $130 billion total; net debt-to-EBITDA targeted toward ~3x by end of 2026, valuation Trades at a modest earnings multiple typical of mature telecoms; market cap roughly $145 billion to $150 billion in mid-2026.

AMX and T are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined AMX and T exposure against your real portfolio. It is not an investment adviser.