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IBM Slips 2.1% on Forecast

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IBM

(IBM) - Get International Business Machines Corporation 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.

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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.