AT&T Inc. said Tuesday it plans to invest $17 billion to $18 billion in 2009. About two-thirds of expenditures are earmarked for expanding the company's wireless and wired broadband networks, AT&T said.The story doesn't mention that AT&T spent $20.3 billion on capital expenditures in 2008, so the announcement today is in line with AT&T's previous announcement on Jan 28th:
Total capital expenditures for 2009 are expected to be down 10 to 15 percent versus 2008 levels.I guess the good news is they didn't reduce their plans further!
Note: There will be a significant investment slump in Q1 2009, especially in equipment & software and non-residential structures.