I was under the impression that buy backs put more money in the company's pocket in terms of profit while also sharing the same risk. Which obviously means a company wouldn't buy back their own stock if they didn't have confidence in the company. Am I missing something here?
It wouldnt surprise me if the buy-back is what is propping this stock up. Most of the bullish speculation seems to me to have been based on VERY optimistic speculation of increased #s over the coming several years. They ALREADY have acknowledged that they were overly optimistic with future projections when they reported earnings. Therefore all computations based on recent [1-2 year] growth are inherently flawed.