When I last wrote about
IBM (NYSE:
IBM)
in mid-April 2012, I thought that for all of the quality that IBM
offered, the stock was still too expensive and vulnerable to a broader
tech slowdown. The stock (and tech in general) dutifully cooperated,
falling about 10% over that period. While IBM is not yet cheap enough to
make it a hands-down buy, it is very much worth noting that not only is
IBM now the model that many tech companies seem to aspire to, but it is
also executing that model better than anybody else.
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