SUN microsystems: 7/18/96 quarterly report - BIG! Message Board

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Technology Stocks : SUN microsystems: 7/18/96 quarterly report - BIG!

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To: Andy Parham who wrote ()	9/20/1996 11:47:00 PM
From: cfimx	of 386

You know, some of you have really piqued my interest in sunw. The way I hear it, this is some kind of money machine, and will be for years to come. So I've been taking a closer look. I heard that MAC has this fantastic shareholder orientation. Why, he's even repurchasing his own shares to benefit all shareholders! It's true. Sunw has been buying its own stock. In fact over the last four years, sunw has spent a tad over $1b of your money on repurchases. I'll admit that is a substantial amount. But guess what. For that Billion, sunw has reduced average shares outstanding by only 6%, in four years. Imagine that 1.5% a year. It seems sunw issues stock about as fast as they are buying it in. No major acquisitions that I can recall. No, those shares must have gone to the top performers at sunw via stock options. Recall that sunw's plan has been portrayed as especially meek on this thread. If the plan is so limited, I wonder how come shares outstanding have hardly been reduced at all, even though sunw spent a BILLION dollars over four years on its own stock. Well, I'm sure there are plenty of people out there who will clear this up for us. Lets put this baby to rest.

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