Wow they have cash on hand and are going to print 1 billion dollars in shares to further dilute shareholder equity. Tech stocks suck in general, they are poor longterm holdings. They are profitable with cash. They should reward shareholders with a dividend or buyback. But then Tech stocks are probably the most anti shareholder friendly sector of the market.
fabs + research, that's why they keep the cash. That industry is cut-throat and the profits are dwindling, outside othe mobile/laptop segment.