Comcast shares have fallen nearly 60% since their record high in 2021, hitting a new 52-week low earlier this month. The article attributes this to rising competition and a shrinking cable market: paying cable subscribers dropped from more than 22 million in 2012 to just over 10 million, and cable now accounts for less than one-third of revenue, down from half. Broadband subscribers have also declined, from 32.3 million at the 2022 peak to 28.3 million now. Still, the article notes Comcast generates enough cash flow to fund its dividend, which yields 5.8% on a forward basis, and a trailing P/E just over 7 suggests the selling may have gone too far.
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