As I noted in a July 17 earnings preview, IBM’s growth is coming almost entirely from its mainframe business.
https://investorplace.com/2018/07/ibm-stock-is-a-massive-trap-despite-earnings-boost/
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Yep, smoke and mirrors with earnings. They even count “Zcloud” in the overall cloud number, and it is not true cloud. Just a crazy financial structure they use to count in cloud umbrella growth but not disclose details. I would not touch the stock. Many of us know this and have lost faith in the company and leadership, just like Warrren Buffett.