Microsoft Corp (MSFT)

[FrancisUnderwood]

Bought MSFT in 2011 when everyone hated it.... Looking at paring back the position up here after significant outperformance relative to the S&P. Buybacks are great, but the financials aren't what they were when I bought in.... Profitability is down, the valuation has gone way up and LT debt has gone from $10b to $40b. Buybacks and dividend raises are great, even if they're coming on the heels of massive debt issuance at extremely low yields, but eventually MSFT has to figure out a way to justify a $500b mkt cap. I don't doubt this company can continue to do well for the next decade though.