IBM is even pitching many of the same hot technology buzzword products: blockchain, cloud
computing, artificial intelligence, security and so on. The problem is that, once again, IBM is about 10
years late to the developers table on all of these products. It doesn’t do any one of these services
exceedingly well, but it does them “good enough for government work.”
We saw the direct results of this in IBM earnings back in April. Gross margins declined more than
expected, and storage revenue (a.k.a. cloud storage) also declined. These two factors combined to
plunge IBM stock nearly 16% in the weeks after it’s last report.
I expect similar results this time around as well. Right now, Wall Street is looking for earnings of $3.04
per share on revenue of $19.88 billion. IBM will also likely report an increase in revenue once again.
That said, the driver for this, once again, will be due to currency translation and not IBM’s improving
business.
https://investorplace.com/2018/07/ibm-earnings-its-time-to-bet-bearish-on-big-blue/
Don't let the recent headlines fool you, IBM is still struggling