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To: ViperChick Secret Agent 006.9 who wrote (7357)	3/25/1998 11:54:00 AM
From: broken_cookie	Respond to of 42787

lisa, I agree that MSFT always sounds pessimistic about future growth and that the street largely ignores them. That's the flavor of their releases. But, the last time I remember them making this "no share repurchase" remark was in july which coincided with a top. The news in july was not accompanied with upward guidence though. and ..., they have to repurchase shares at some time, so why not last quarter if they believe the shares will just get more expensive from here. Disclaimer: I am working from memory and have no long or short position in MSFT.