The Company is totally under-valued that is why they are buying back their shares and they are confident in the future. When earnings come-out in Feb, the Price will significantly increase and they would have to buy at an higher price. They already bought 1 Billion worth at an average price of $165 in the 3rd quarter - which looks cheap right now. We will have fewer shares outstanding and more profits - for shareholders. 2 Billion or 3 Billion is not much for Bidu in the long run. They have tremendous FREE cash flow each quarter. SO, no I disagree with you. If a company is confident, they are putting their money where they are most confident - in themselves and their plans.
Yes, this is great for shareholders. I have held this stock for over 7 years - way before any 10 for 1 split. Less shares outstanding means, more profits for shareholders. Company has more money than they know what to do with! Investing heavily in AI, Driverless Cars, Video, HealthCare, Banking, Insurance, O2O. Revenues and earnings are growing so fast that they can invest back into the company by confidently buying shares. Earnings will be released on Feb 9th or 10th, and you will really see the O20 investments begin paying off on the top end and marginally on the bottomline as they continue to invest heavily. Currently, this should be trading much higher, but their investments are dragging the price and eps down in the near future; but the Revenues will continue to soar. When the 'huge' investments begin tapering off - just a little; in a few years than big time growth will follow.