The So-called "Sexy" Buckets (AI, Quantum) Cannot Save IBM From Reality, Shares Tank
IBM uses the same tricks and practices as Microsoft to fake 'growth' (shuffling revenue between buckets). But are shareholders still gullible enough?
This past week we wrote about IBM almost every day, sometimes several times per day. Hours ago, amid soaring debt, the so-called 'results' came out. Soon afterwards many shareholders dumped their shares. It's already discussed in this very active thread, where one poster says: "I work for IBM, I don’t have hold on to IBM. I sell them as soon as I can. IBM stock is overpriced and overrated. At a $100 per share, it used to be appealing for its dividend."
Another says (earlier on): "Problem is they revised revenue growth forecast for full year (meaning Q4 is shaping up to be a stinker)."
The first comment is probably most informative and it ends with: "No matter how much financial hocus-pocus they use to reclassify revenues to land in the "sexy" buckets (AI, Quantum), it still smells old and musty - just like this company."
The latest comment will probably get deleted very soon for racism. Here's the entire thread:
Don't worry, they'll just name-drop "Quantum" a lot more often:
Once upon a time IBM was a talent magnet and world leader in engineering, not a buzzword clown show with a glorified old brand. █