2) Dividing 7.3 billion by the 37 billion of CASH makes me believe that each share has approximately $5.00 of strictly cash value already buried in the stock price. Therefore the price of the stock, re: future performance / the gamble is the other $20.00 if the stock is being traded at $25.00 a share.
3) Next, the question for the investor is whether or not the other tangible and intangible assets of PFE are worth $20 a share based upon the earnings potential, the patents, the assets, and the ability to use the 37 billion to do whatever it wants to do?
I think the answer is YES. This stock is worth more than $20.00 factoring in the $5.00 cash into the stock price. Buy More PFE.
The real question I guess is what the liabilities of PFE are both known and unknown:
1)Litigation (class actions against big pharma) 2)Debt 3)Patent Expiration 4)Generic Competition 5)Government 6) Price controls etc.