Verizon (NYSE: VZ) stock took a big hit toward the end of July after the telecom giant released second-quarter results. The company's performance wasn't as good as many had hoped it would be, due in no small part to a slowdown in phone upgrading activity.

Verizon investors got spooked after a recent earnings revenue miss of $257 million caused a big sell-off in the stock. Despite the strong attributes of Verizon listed by bullish analysts, Wall Street has punished the stock for a very small top-line miss.