What investors want right now is growth and the price for Sprint is reasonable.
More Quotes from Greg Gorbatenko:
People have been betting against them for a long time. This backslide is just something to take advantage of. There is substance to these companies.Greg Gorbatenko
That's a tough thing to do, as we have seen with the AOL Time Warner merger. As a business operator, Roberts has cut costs and improved the company's profit and margins.
Greg Gorbatenko
There was a wireless Internet bandwagon and people went crazy on the capital expenditures side. But downloading movies to your PDA or cell phone turned out to be just marketing hype,
Greg Gorbatenko
Spectrum is a scarce resource and wireless companies build out their networks based on average expected usage levels. A spike in demand can blow up the network and most cannot handle an emergency.
Greg Gorbatenko
But barring a significant improvement in the economy, it seems unlikely that demand for new wireless services will increase dramatically any time soon. That further lessens the need to spend on more licenses. There is still too much supply out there and not enough demand, ... You need companies to exit the business to pull back on the supply. That will happen either willfully or through bankruptcy.
Greg Gorbatenko
On the surface, the numbers look bad, but when you dig into them you see health, ... Moreover, the 5 billion share buyback just announced is exactly what we would recommend. Lastly, while the quarter looked soft due to comps, it should be temporary, as compared to long-term health in the growing cable business, which is why we believe the company can keep to its guidance.
Greg Gorbatenko
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