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View Diary: Is Apple about to pull off one of the largest tax dodges in history? (64 comments)

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  •  Cisco & Microsoft had extremely high P/Es (3+ / 0-)
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    Odysseus, FG, erush1345

    and they were coming down after the tech bubble.  So you are looking at a balance of movements - some that move the price up and others that move down - the fact that the net movement was down does not mean the up movements did not have an impact.

    Stock buybacks when the stock had high valuations (such as when the P/E was greater than its organic growth rate) are mis-timed buybacks - consistent with my above comment.

    Companies that have large excessive cash frequently have the problem that management spends the cash by overpaying for bad acquisitions - which is far worse than a buyback that does not result in an increase of the stock price.

    The most important way to protect the environment is not to have more than one child.

    by nextstep on Wed Apr 24, 2013 at 11:12:25 AM PDT

    [ Parent ]

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