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

To: jonkai who wrote (71308)	7/18/2002 6:04:00 PM
From: Exacctnt	Read Replies (2) \| Respond to of 74651

<<<Q4 2002 26 points to fundamental MSFT..... >>>> It's good to see that you are weeding out some of your fundamental points. Only 26 deceiving exaggerated dumba$$ lying recycled points which is down from 31 last quarter.

To: jonkai who wrote (71308)	7/18/2002 6:13:07 PM
From: David Howe	Read Replies (1) \| Respond to of 74651

<< MSFT has done an about face, they actually repurchased more shares this quarter than they issued in ESO grants.... for the year they repurchased 128 million shares, which is a substantial reversal... they appear to have finally recognized the problem..... and not only that, they only issued 41 million new option grants for the year....... substantially down >> No dilution, just like we've been explaining to you for months now. NO dilution. Next time you post about the "massive dilution", we get to point this out to you, right. Dave

To: jonkai who wrote (71308)	7/18/2002 6:42:41 PM
From: sandeep	Read Replies (2) \| Respond to of 74651

Jonkai, can you reconcile some of the discrepancy I observed in your post? 23. MSFT has 802 million options outstanding, if it wanted to keep from diluting its share count any more, it would need to buy back $40 billion worth of stock, yet it only has $36 billion to do it (current assets minus current liabilities)..... see any problems yet? that means guaranteed dilution, on top of that, MSFT granted for example 650 million options in the last 3 and 1/2 years. I assume that you believe that MSFT has to buy 802 million shares to avoid dilution. But if 650 million of those had been granted in the last 4 years and are mostly outstanding, then clearly, no purchases need to be made to avoid dilution for those options. None of these option grants can be lower than the current stock price, can it? Thanks for your enumerations of reasons for MSFT's decline.