I posted this on another post--same topic. Good luck!
I've tried all the solutions posted on the internet:
-Rolling back the wifi driver
-Adjusting MTU
-Running background internet activities: ping and Pandora
-Deleting network settings: preferred network, keychain, etc.
-Resetting PRAM and NVRAM
-Router Settings
It has been a frustrating process trying to resolve this issue.
I finally have stable wifi on my 21 inch iMac.
I downloaded Signal from the App store, and played around with the recommended channels.
I tried channel 11; it worked for a little bit, but it eventually started dropping.
I switched to channel 1, now I am on day two. Wifi has no issues when after waking, and no random drops.
Wireless experts recommend channels 1,6, and 11, so I would start with those settings.
I hope you guys have as much luck as I did with this solution.