One can gauge the level of uncertainty in the market when a man who made his first fortune by winning at blackjack is advocating for safe stocks. Bill Gross, the billionaire founder of Pacific Investment Management Co. (PIMCO), and the one who made active trading in bonds mainstream, is “staying away” from the AI names that have defined market returns in recent years.

Sounding cautious about the AI trade, Gross remarked, “Maybe it’s not a single elimination game but it feels like it. I’m staying away.” Instead, the “Bond King” is finding value in names that have a long track record of navigating several market cycles, operate stable businesses, and have a history of paying dividends.

Which income stocks are they? Let’s take a closer look.

Income Stock #1: Verizon (VZ)

Founded in 2000, Verizon (VZ) is one of the largest telecommunications companies in the world. It provides a wide range of communications and technology services to consumers, businesses, and governmental entities across the United States and internationally. Its core operations include wireless and fixed wireline voice and data services, broadband and fiber-optic broadband, wireless equipment and related devices, and business solutions such as IoT connectivity, managed networks, and security services.