Jim Cramer Explains Why Investors Like Buybacks
AMD (AMD) announced that it will repurchase up to $4 billion of outstanding stock.
The company said that it expects to fund repurchases through cash generated from operations "which [has] been strengthened by the company’s strong operational results."
“Today’s announcement reflects our confidence in AMD’s business and the successful execution of our multi-year growth strategy,” Lisa Su, CEO, said in a statement “Our strong financial results and growing cash generation enable us to invest in the business and begin returning capital to our shareholders.”
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