The reason why VZ and T trade so low in value is because the teleco industry is a commodity. Look at any other commodity stock, they all trade at low PE ratios

The reason why VZ and T trade so low in value is because the teleco industry is a commodity. Look at any other commodity stock, they all trade at low PE ratios with high yields. There is no growth or innovation coming out of the teleco industry. VZ and T price are both flat since the introduction of the iPhone while if you bought Apple at 5x the PE ratio of VZ when the iPhone released you would have a nice return of nearly ~4000% In the end using PE ratios and yields to say a company is cheap or expensive is pretty useless without look at the industry they compete in. Don't compare value of companies across two very different industries as well.