During the years between 1989 and 1998, Microsoft experienced significant changes in its stock prices. In this period, the company did not distribute any dividends, which means all earnings were retained to fuel growth and reinvest further in the business. Unfortunately, the exact stock prices for each year as listed in the question are missing, but it’s important to note that during these years, Microsoft transformed into a technology leader, leading to a dramatic increase in its stock value.
The lack of dividends can often suggest that a company is in a growth phase, opting to reinvest profits to increase its market share and expand its operations rather than distribute them to shareholders. This strategy may appeal to investors focused on capital appreciation rather than income through dividends. Overall, Microsoft’s strategy during this period proved successful, positioning them for the tech boom that followed.