IBM CEO To Update Investors In Rare Appearance

SAN JOSE, Calif. (AP) — IBM Corp.'s Chief Executive, Sam Palmisano, will update investors Wednesday in a rare public appearance, likely offering more color on the technology company's progress toward meeting its bullish 2009 outlook.

Palmisano's talk at the Armonk, N.Y.-based company's investor meeting comes three weeks after IBM reported its first-quarter results and reiterated its forecast for $9.20 per share in annual profit.

The forecast is surprisingly high and shows IBM's confidence in its ability to wring out more profits even in tough times.

All of IBM's major businesses suffered declines in the first three months of the year, but the company keeps getting more profitable despite the recession because of a focus on high-margin services and software deals.

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