Microsoft splurges on more Microsoft stock
We’ve all been wondering just what Microsoft was going to do with that massive reserve of cash it’s been sitting on for years, not unlike a corporate Smaug. Turns out, they’re buying some shares in themselves.
It isn’t news that Microsoft is buying back some of their shares, but what is news is that they have decided to buy more back than originally announced. It sounds like Microsoft found a surefire way to increase their stock price without having to do anything productive with their assets like, oh, say, innovating.
The stock is getting the expected boost from the buyback, but I can’t but help wondering why Microsoft doesn’t have better things to invest in. Isn’t their industry just brimming with opportunities?