Watson, Cloud Lead the Case for IBM Stock
May 7, 2015
Grazed from InvestorPlace. Author: John Kilhefner.
International Business Machines (IBM) last month posted an earnings surprise — good news that was dulled a bit thanks to disappointing overall sales thanks to a strong U.S. dollar. Cloud computing and data analytics made up about 27% of its business in the last year, but dwindling sales of IBM’s ancestral software and services is prompting Big Blue to put its cloud and data business on the front lines.
InvestorPlace’s James Brumley noted that this strategy of IBM effectively buying its way into the cloud race is working, though that premise at the time wasn’t enough to recommend investors start clamoring over IBM stock. IBM’s Vice President of Investor Relations Patricia Murphy reaffirmed the tech giant’s commitment to turning its business around with the more innovative and profitable ventures in the cloud and data analytics, allocating billions of dollars to cloud and data with initiatives in the Internet of Things and Watson Health…
Here’s why the cloud and data are so important to the future of IBM stock:…
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