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May 31, 2024
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Although I do agree with you that IBM is a solid company long-term, the earnings report was definitely a bit of a disappointment in my opinion. I didn't read the transcript or listen to the call as I had a couple of earnings notes (in an adjacent sector w/in tech) to put out last night myself but the company definitely missed on the topline, which is cause for concern. You're seeing the stock sell-off today (-4%) and weigh down the DOW (J&J too) and NASDAQ (along with TXN). With all that said, topline growth is the primary bogey. IT spend is crucial to leading tech higher in 2H, but with economic conerns out of Europe and possible slowdown in China, PC/IT spend may not be as strong as most initially thought. I could go into more detail but that's all the time I have right now.
Yes, absolutely.
In the call, and if my memory serves me right, IBM has increased it's EPS for 15 straight quarters. NOT BAD.
They also said that they are introducing a new software package that is the best thing IBM has ever put out and that a lot of companies are waiting to buy it in the Q3. We'll see.
Accenture had such good earnings, it made IBM's earnings look so generic. But like you said ShawnDU2009, it was that top line miss that is pushing their stock lower.
ROFLMAO:
http://www.thestreet.com/story/10810893/1/stocks-weighed-by-ibm-sales-m…
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