IBM Cannot Lie to Shareholders Anymore
IBM released the results only after the market had closed. Investors then "spoke out" ('creative' accounting did not impress them at all):
IBM pretends to have done very well. Initially, some people believed IBM. Then came the media reports about the results (mostly spin and LLM slop), but the results contain red flags. Notably loss of big contracts.
We've studied many comments about these results, probably from IBM insiders, e.g. this one on IBM: "Expect the cost cutting to double or triple... I would not be surprised if we see a layoff every quarter this year."
"Cost cutting is now expected to increase significantly. There is no other option," another comment in another thread said because IBM had lost federal contracts and important staff.
IBM's CEO is good at being wrong. On this thing too he was wrong [1, 2]. Many at IBM allege his appointment (or selection at the Board) was motivated by politics or signalled the transition towards lower pay. █