NEW YORK (TheStreet) -- Shares of AT&T (T) were up 3.16% to $34 on Thursday following the telecom company's announcement that it will begin pre-orders on the highly anticipated Samsung Galaxy S5 phone on Friday. Pre-orders can be placed in store as well as online, while shipping on pre-orders will begin in early April.
The price point for the new device will be $199 with a 2 year contract commitment. No commitment handsets will be sold for $649.00.
The Galaxy series has been a major competitor to Apple's (AAPL) iPhone dominance in recent years. Samsung's smartphone market share is more than double Apple's and grew to 31.7% while Apple's was 14.2% in 2013.
TheStreet Ratings team rates AT&T INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate AT&T INC (T) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, notable return on equity, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."