Tim Brown: Don't Count Out AT&T

Some of the most dominant NFL teams over the last few years have gotten off to a rocky start. The banged-up Indianapolis Colts dropped their opener against the Chicago Bears, while the New England Patriots suffered a loss of a different kind while defeating the Kansas City Chiefs by a touchdown.

While the Colts may be able to bounce back, the loss of Patriots quarterback Tom Brady has the potential to really shake things up in the AFC East division. However, both teams have great coaching staffs and it would be a mistake to count either of them out over the long haul. A team is made up of more than just one player, although Tom Brady is one of a kind.

Keeping with that theme, today I'm going with a company that has withstood the test of time, even if it is a little beaten down at the moment. I like AT&T(T Quote). Right around the July Fourth holiday, I recommended picking up some shares of this company. Now it's time to grab some more. At the time, the stock was at $33 and change. In early trading today, it was at about $31.

The stock hit its 52-week low of $29.72 in early August and has not shot back up yet. It has shed more than 22% of its value in the last year. In addition to its deal with Apple(AAPL Quote) and the iPhone, and its current price, there are a number of reasons the like AT&T. It has a forward price-to-earnings ratio of just 9.41. That means it is being underestimated big time.