Thread regarding AT&T (T)

I remember that not so long ago AT&T was considered a synonym for a safe stock to buy and own. Now it looks like that perspective has changed dramatically.
I have two friends who sold their AT&T shares. They aren’t large investors or anything but they are responsible and they tend to make safe bets on the market. Both of them spoke highly about AT&T but now they are saying that it is realistically becoming more and more dangerous to own.
It’s not that I can draw a general conclusion from the moves of two people on the stock market, but when we count in the recent business failures that this company had and the general opinion that dominates in investor circles, I am closer and closer to the thought that this stock can no longer be considered a safe bet.
What do you think? Has AT&T turned into an unsafe stock that has the potential to cause headaches for the people that own it?