Media and technology company Comcast’s (CMCSA) top and bottom lines surged in its last reported quarter. However, the stock has retreated considerably since hitting its all-time price high on September 2, 2021, and closed yesterday’s trading session at $48.18. So, let’s find out if it is wise to buy the dip in the stock now.Well known media and technology company, Comcast Corporation (NASDAQ:CMCSA) in Philadelphia, Pa., has three primary businesses: Comcast Cable, NBCUniversal, and Sky. Investors have been concerned about the growing competition in the streaming space. Also, this month, the company’s cable unit’s president and CEO, David Watson, said at a conference that the company would end 2021 with a net addition of about 1.3 million broadband subscribers, compared to nearly 2 million in 2020. The stock has declined 9.7% in price over the past month to close yesterday’s trading session at $48.18.
CMCSA is currently trading 22% below its all-time high of $61.80, which it hit on September 2, 2021.
However, CMCSA resumed its share repurchase program in May 2021, reflecting its confidence. And during its third quarter of fiscal 2021, it paid $1.20 billion in dividends. Furthermore, it reported the most wireless net additions in the third quarter since the launch of Xfinity Mobile in 2017. And its NBCUniversal results continue to be driven by the ongoing recovery at its domestic theme parks. So, CMCSA’s near-term prospects look promising.