Microsoft began selling bonds this week—something is has never done before—raising $3.75-billion and sparking speculation that they might be looking to buy something huge. Some analysts claim they're using the money to buy up stock, which is fairly cheap right now, but since today is a great day for wild speculation about Microsoft, have at it. [WSJ]
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I think they are raising cash to buy HTC, so that they can make Win/Zune Phones without having to partner with anyone and try to compete against Apple and Palm.