Screen readers will read "&" as "and", and text browsers will display it as "&".
The reason you write & , is that "&" is a special character in XHTML and must be escaped. Any browser / screen analyzer that understands XHTML knows that & - This is a shielded ampersand ('&') and displays it as such or reads it aloud as an "and".
If you are writing an XHTML document, this is not an example of how to make your alt text more readable from the screen, you should replace your bare ampersands with & or the risk that your document will not check and potentially display incorrectly.
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