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These numbers will tell you if your -3-

Qualcomm Inc.                          US:QCOM                                                             -17%                                       56.00%                               50.67%                                 -14.5%                    49%                     39% 
Nvidia Corp.                           US:NVDA                                                              -5%                                       63.57%                               60.39%                                  -1.1%                    38%                    135% 
Salesforce.com Inc.                    US:CRM                                                              22%                                       68.75%                               72.08%                                   2.7%                    17%                    123% 
Western Digital Corp.                  US:WDC                                                             -20%                                       20.45%                               33.09%                                  -0.7%                    16%                    -12% 
Advanced Micro Devices Inc.            US:AMD                                                               9%                                       43.14%                               39.99%                                   3.8%                    83%                    338% 
Netflix Inc.                           US:NFLX                                                              31%                                       40.93%                               39.68%                                  -0.1%                     9%                    168% 
Microchip Technology Inc.              US:MCHP                                                              -7%                                       43.30%                               36.26%                                   1.4%                    29%                     51% 
Activision Blizzard Inc.               US:ATVI                                                             -16%                                       65.33%                               66.00%                                   0.0%                     5%                     47% 
Intuit Inc.                            US:INTU                                                              15%                                       74.94%                               75.49%                                   0.0%                    25%                    129% 
Juniper Networks Inc.                  US:JNPR                                                              -4%                                       59.87%                               60.26%                                  -1.4%                    -9%                      0% 
Xilinx Inc.                            US:XLNX                                                              12%                                       64.57%                               68.85%                                  -0.1%                     3%                     81% 
ServiceNow Inc.                        US:NOW                                                              32%                                       77.33%                               76.55%                                   3.0%                    58%                    239% 
Synopsys Inc.                          US:SNPS                                                               9%                                       76.92%                               74.85%                                   1.3%                    58%                    131% 
PayPal Holdings Inc.                   US:PYPL                                                              19%                                       44.47%                               39.77%                                  -0.9%                    28%                    171% 
Twitter Inc.                           US:TWTR                                                               9%                                       65.88%                               67.86%                                   1.9%                    -1%                     70% 
Motorola Solutions Inc.                US:MSI                                                               7%                                       48.04%                               46.13%                                   2.2%                    28%                    118% 
Cadence Design Systems Inc.            US:CDNS                                                               9%                                       88.98%                               87.99%                                  -0.3%                    59%                    164% 
Keysight Technologies Inc.             US:KEYS                                                               7%                                       59.38%                               56.83%                                   2.1%                    74%                    187% 
Analog Devices Inc.                    US:ADI                                                              -6%                                       57.64%                               61.12%                                  -0.7%                    28%                     61% 
F5 Networks Inc.                       US:FFIV                                                               5%                                       84.27%                               83.26%                                  -1.0%                   -16%                      2% 
Autodesk Inc.                          US:ADSK                                                              27%                                       91.56%                               88.47%                                   1.4%                    24%                    140% 
Electronic Arts Inc.                   US:EA                                                               3%                                       68.93%                               66.98%                                  -3.6%                    17%                     24% 
Take-Two Interactive Software Inc.     US:TTWO                                                              74%                                       44.01%                               50.35%                                  -1.7%                     8%                    142% 
Ansys Inc.                             US:ANSS                                                              19%                                       86.87%                               86.25%                                  -0.4%                    60%                    169% 
Fortinet Inc.                          US:FTNT                                                              21%                                       71.16%                               70.15%                                  -0.5%                    42%                    248% 
Jack Henry & Associates Inc.           US:JKHY                                                              12%                                       43.88%                               43.93%                                  -0.6%                    11%                     78% 
IPG Photonics Corp.                    US:IPGP                                                              -8%                                       48.66%                               55.64%                                  -2.0%                     1%                     48% 
Arista Networks Inc.                   US:ANET                                                              16%                                       63.76%                               64.19%                                  -0.3%                   -17%                    104% 
                                                                                                                                                                                                                                                                         Source: FactSet 

A reminder: If you are impressed with a company's sales growth, you need more information to tie everything together. Was the sales growth the result of an acquisition? Is the combined company's strategy sound?

Second group -- R&D spending exceeds buybacks for at least one quarter

Here's the second group of 28 companies whose spending on buybacks exceeded R&D spending for either the most recent reported quarter or the past 12 months. The list is sorted by how much (if any) buyback spending exceeded R&D spending during the most recent quarter:

Company                         Ticker  Dollars spent on buybacks - most recent reported quarter  R&D spending - most recent reported quarter  Buyback spending less R&D spending - most recent quarter  Dollars spent on buybacks - past 12 months  R&D spending - past 12 months  Buyback spending less R&D spending - past 12 months 
Apple Inc.                      US:AAPL                                                   $17,444                                       $4,110                                                   $13,334                                     $66,897                        $16,217                                              $50,680 
Oracle Corp.                    US:ORCL                                                    $5,519                                       $1,557                                                    $3,962                                     $31,816                         $6,020                                              $25,796 
Intel Corp.                     US:INTC                                                    $4,521                                       $3,208                                                    $1,313                                     $12,366                        $13,392                                              -$1,026 

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12-05-19 0746ET

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