IBM's stock dropped 5% following mediocre earnings that missed Wall Street expectations. Founded in 1911, IBM was once a leading tech company but has now significantly declined over the past decade. The latest quarterly revenue increased by 8% to $17 billion, with per-share earnings rising 18% to $2.31. However, these figures are minor compared to leading tech firms. IBM has fallen behind in critical technology areas, suffering from a lack of innovation in sectors like cloud computing and AI, resulting in a market cap far below its competitors.
IBM, once one of America's greatest tech companies, has significantly declined and is now considered one of the worst tech tragedies over recent decades.
Despite an 8% revenue increase to $17 billion in the most recent quarter, IBM's metrics pale in comparison to major tech firms like Microsoft and Apple.
IBM missed several major technological advancements such as search, cloud computing, and AI chips, leading to a significant gap with current market leaders.
IBM's market cap stands at $262 billion, significantly smaller than tech giants like Amazon, Apple, and Microsoft, highlighting its dwindling relevance.
Collection
[
|
...
]