IBM just exceeded forecasts on income, missed on revenue. This is a tough environment and flat market for continued growth, but the company is a market leader for good reason.
We’ll see how they adapt and whether the profits they’ve been generating, in part by not sharing cost efficiencies with customers under long-term contracts, affect their growth in the next couple of years.
Yes, the revenue miss was by a hair, and some nitwits decided to go into an unwarranted selling frenzy, diminishing the stock price by 5% (about 10 points). Try as I may, I found no other logical reason for it. Now that the dust from that has cleared, the market price has recovered to about 207, which I would consider as a tad shy of appropriate value for the stock.