First quoted paragraph below encapsulates it perfectly, but the whole article is worth reading. Can't wait to see how IBM massages their 1Q17 results.
http://247wallst.com/technology-3/2017/04/15/ibm-shares-stumble-ahead-of-earnings/
"Wall Street continues to be concerned that IBM’s long-term drop in revenue will continue, which pressures the bottom line unless the tech firm keeps up its layoffs. IBM had revenue of $104.6 billion in 2012. Last year, that figure fell to $80.0 billion. Net income in 2012 was $16.6 billion, which fell to $11.9 billion in 2016. IBM has sold some businesses over the period, as well as purchased some. CEO Ginni Rometty has promised a turnaround quarter after quarter. It has never materialized."
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"As investors dig through IBM’s earnings by segment, it is hard to tell where the various components of cloud and AI are buried.
IBM’s first-quarter earnings will be a watershed for shareholders. IBM needs to show even the most modest growth. And it particularly needs to support the statements that it is a leader in markets that analysts believe are dominated by other companies, particularly Amazon and Microsoft."