Almost ALL microsoft cash is held oversea !!!!!!!!!!!!
last time i read it, we have got some 80% of 70 billions in oversees, but 20% of 70 billions is still sky high for any company in the world.
MSFT can issue debdt at 0.5% yearlyinterest rate if they have to. MSFT paying dividened at 3.5, and effective p/e just 5, so issuing more debt to buy back is simply a very smart thing to do, if have to.
The current stock buyback, announced eyars ago, still have some 5 billions left to be completeted. For some reason, MSFt has not done much of buying back over the last year or so. However, cash at hand have incresed by some 30 billions over the last year or so, so now, MSFT is in very strong position to launch massive buybacks, if market considition is faverable. Now the shares are down some 20%, making it the perfect time to greatly accelerate the share buybacks!!!!!!