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IBM Selloff an Overreaction?

IBM's crucial software and services businesses also enjoyed a strong third quarter, with revenue rising 13% and 8%, respectively. The tech bellwether has shifted its focus toward these high-margin areas in recent years, aiming to open up fresh revenue streams in a market saturated with its server hardware.

Brad Zelnick, an analyst at Macquarie Capital, cited IBM's software business, in particular as a standout during the third quarter. "Growth engines including growth markets, business analytics, smarter planet and cloud all appear on track," he explained, in a note.

IBM's news seemed to weigh on shares of Intel and Juniper Networks (JNPR - Get Report), which both report after Tuesday's closing bell, in the early going, but both stocks were in positive territory in recent trades.

-- Written by James Rogers in New York.

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IBM $138.46 0.00%
JNPR $30.27 0.00%
INTC $34.46 0.00%
AAPL $117.81 0.00%
FB $105.45 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

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