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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: johnd who wrote (48004)	7/18/2000 6:49:55 PM
From: t2	Read Replies (1) \| Respond to of 74651

Johnd, All the CFO said in relation to buyback of shares was that MSFT had no plans to do so AT THIS TIME. He said he cannot say more than that---they are clear to buyback if they wish. I have a feeling it has to do with what happened in the last quarter when the stock dipped to about 65 and they could not do any buybacks. They could want to wait for that opportunity to buy the shares on weakness if that happens. OR they could be waiting for a major buyback announcement that does not coincide with the earnings release. I think this is the case---why not make a major statement in a little while after the market digests the earnings report. Looks like a good strategy IMHO. A buyback could have the same effect as a stock split would have---why not give a little while before making the buyback decision---grab a few headlines later. Just remember what Connors is thought to have told some New York Times or WSJ reporter about how he wanted to buyback shares earlier this year but could not due to regulatory reasons.

To: johnd who wrote (48004)	7/18/2000 8:30:51 PM
From: Ryan Hess	Read Replies (3) \| Respond to of 74651

Anyone? What do you know? Please post. Is the regulatory waiting really over? Why MSFT is not restarting? Perhaps upper management does not believe the stock is a compelling buy relative to intrinsic value at the current price level. Or perhaps they believe they can invest funds elsewhere and earn higher returns (either in their own business or via acquisition) For an explanation on when it makes sense to make share repurchases, please read Warren Buffet's most recent annual report to Berkshire Hathaway shareholders. under the heading: "Share Repurchases" berkshirehathaway.com