IBM (NYSE:IBM) can be a frustrating stock to evaluate. On one hand, it really is a tech bellweather with its hands in many different cookie jars. On the other hand, in a tech word that craves growth over almost everything else, IBM's sheer size works against it. And then, of course, there is the quality question. It has been quite a while since analysts have had the same sort of existential worries about IBM that currently plague former tech darlings like Hewlett-Packard (NYSE:HPQ), Dell (Nasdaq:DELL) and Cisco (Nasdaq:CSCO).
A Somewhat Disappointing Third Quarter
IBM missed the average analyst sales estimate and that's all some tech traders will care about when it comes to evaluating this quarter. It's true, year-on-year growth of 8% (3% in constant currency) is not great, and the 2% sequential decline is also concerning.
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http://stocks.investopedia.com/stock-analysis/2011/Lukewarm-Performance-At-IBM-IBM-HPQ-DELL-CSCO-EMC-ORCL-MSFT1020.aspx
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