Anthony Scilipoti

So if you're saying they should consider it.

I understand.

So I think what they should do is they should look at

earnings on a pre-EPS.

So look at the earnings that the company's generating before you divide it by the number of shares to see is that number growing relative to the revenues.

Because now you're seeing, or is it just coming from a reduction of stock price, number of shares outstanding?

And if the company's taking on debt, here's the classic example.

The company borrows money to buy back stock.

Why?

Because it's such a highly perceived value company and generates cash, it can borrow money.

and at a very low price and invest it in its own stock, which has historically generated a greater return than how much it has to pay in debt.

Well, this works until it doesn't, because if for some reason the business changes or just slows its growth,

Which could be just a natural evolution.

Like part of this is the law of large numbers.

Okay.

And if this happens, then all of a sudden that debt doesn't go away.

And what looked like a very low cost is now a meaningful cost that doesn't leave.

And I look at Apple and this is what concerns me.

Revenues aren't growing.

Minimal.