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Status Update

by The Happy Hour

 

IBM posts first revenue miss in five quarters, shares tumble

www.reuters.com

Reuters:

Shares of IBM, whose revenue has now fallen for 20 quarters in a row, tumbled 4.7 percent to $162 in trading after the bell on Tuesday. At current levels, the stock is set to more than erase its roughly 2.5 percent gain this year.

Twenty quarters in a row. That's 5 years in a row, for your non-math majors. That's incredible.

I feel like this isn't talked about enough -- perhaps because it's not the 1960s, or 1970s, or 1980s. But in an era where basically all the current crop of big tech companies are near their all-time highs (both in stock and performance), IBM is struggling badly. 

Apple's market cap is now almost exactly 5x IBM's. So much for "big brother"...

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