Warren Buffett purchased IBM shares in the year 2012 worth billions of dollars. Yet the stock has pummeled and has been pounded downwards for the past 5 years. The company's revenue has been dropping due to their exit of the computer business. IBM sold their computer business and invested into the Artificial Intelligence business. Wall Street didn't seem to like the drop in revenue so their stock has dropped and stayed flat for 5 years. Today, their fortunes seem to be turning around. Their investment into the Artificial Intelligence business seems to be paying off. The drop in revenue has bottomed out. Wall Street seems to like it. The stock is up 4% today after-hours when they announced earnings. See article here: Update 10/18/2017 IBM's stock price surged 13% today. The company is making headlines regarding their turn around. I think this is it. Our long wait is over. CNBC: Dow rises 160 points to close above 23,000 for the first time as IBM posts best day since 2009 Disclosure: We own shares in IBM. |
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