Yes they are, they have just announced a $4B stock buyback.
They are a “dividend” stock without proper dividends. Not everything needs to be a growth stock. Having said that 10% down in 10 years isn’t great, especially with where the rest of tech has gone in that time.
If their main way distributing profits to investors is through stock buybacks then that would mean that their stock should have grown right? 10% down without real dividends is terrible.
From an investor standpoint, dividends and stock buybacks are roughly equivalent. Both are ways of returning cash to investors. Buybacks can be more tax efficient for investors using taxable accounts.
