Purchased additional shares late last week.
To reiterate: 3% dividend, 5+ year low, net cash of $13.5 Billion.
People are yapping about MSFT and all of its cash. But NOK has to rank in the top 10 of cash rich companies. If there was a stock screen that allowed you to look for companies with >= $1 Billion Market Cap and where Net Cash is >= 10% of Market Cap, it would be interesting to see how many companies pop up. Cash currently makes up 25% of NOK's market cap.
I "upgrade" my phone every year or so. Unless the expected life of mobile phones increases, it seems to me that NOK will be back on track within 6 months, once newer, more "attractive" phones hit the market.
Given that NOK's problems seem so easily fixable, it makes me wonder whether other, less publicized problems are lurking. At these prices, however, NOK is already discounting lots of problems.
Still looking for $20 within 18 months. |
