IBM Slips 2.1% on Forecast

IBM

(IBM) - Get Report

was down 2.1% in preopen

Instinet

trading after CEO Louis Gerstner predicted high single-digit sales growth for the computer giant, down from his earlier estimate of 10% or better.

In addition, IBM executives said Big Blue did not have enough units on hand to meet demand for its latest mainframe.

Lehman Brothers

and

Bear Stearns

maintained their buy ratings.