Except maybe for Jana, Steve, and the Board. What a waste of money. Now borrowed bond money will need to be paid back for shares that are now underwater.
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Imagine the share price if there was no buyback !!!
Buybacks aren't about short term price impact of large purchases. It's about juicing EPS by reducing the denominator. Those shares aren't "underwater", they get retired and hence the share count goes down
Slowdown in China is about to hit Q3 revenue. Revenue will be more than 10% down. I think it is good that we still have $65. Sell, Sell, Sell …
There's a much larger short interest in Q stock in the past 60 days. Look it up.
And meanwhile Broadcom's at near it's 52 week high, same with NXP. Intel's not that far off too from their 52 week high. Cirrus Logic is close to their 52 week high. Seems like Q is the only semiconductor that is underperforming.
Just a slow day on Wall Street. Qualcomm will bounce back.
what happened?
But hey, the Q needs to charge everyone a 401k account maintenance fee because we need to save money!