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Technology Stocks : Dell Technologies Inc.
DELL 136.86+3.6%3:16 PM EST
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To: DOUG H who wrote (129839)5/29/1999 2:08:00 PM
From: Shadow  Read Replies (2) of 176387
 
This is cut from a COMTEX new brief on myTrack this morning

Pricey Buybacks

Not all uses of the cash benefit the vendors' customers, however.
Even though tech stocks are trading at very high prices, many companies
are repurchasing billions of dollars worth of their stock. For
instance, Dell Computer bought back 149 million shares of its common
stock at a cost of $1.5 billion during its fiscal year ended Jan. 29.
In fact, Dell spent five times more to buy back its stock than it did
to improve and equip its manufacturing and office facilities. The
company still ended its most recent quarter with $4 billion in cash, up
from $2.4 billion a year ago.

IBM spent $2.1 billion in the first quarter ended March 31 to buy
back its stock. Microsoft spent $1.5 billion on buybacks in the nine
months ended March 31, and Intel spent $6.8 billion in fiscal 1998 on
stock repurchases-more than double what it spent on plants and
equipment. ---

Embarrassment Of Riches: Cash and short-term investments held at the
end of the most recent quarter (in $ billions)

Microsoft $21.8
Intel $10.6
Cisco Systems $6.5
IBM $5.4
Hewlett-Packard $5.0
Dell Computer $4.0
Compaq $3.6
Texas Instruments $2.2
Oracle $2.2
Sun Microsystems $2.0
Motorola $2.0
3Com $1.7
BMC Software $1.2
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