IBM Tries to Convince Investors Its Business Will Stabilize
IBM has reported lower year-over-year sales for 8 quarters in a row, causing many investors to lose patience with the lagging stock. IBM shares are down 6 percent for the past year.
IBM's CEO Virginia Rometty has been getting out quite a bit this week ahead of the company's Wednesday analyst meeting. She's trying to convince investors that business will stabilize and that there's a clear vision for growth. IBM is facing some major challenges in their core business, including shutting down data centers, slashing hardware spending and drastically reducing IT budgets as customers move to away from IBM to cloud services. IBM has reported lower year-over-year sales for 8 quarters in a row, causing many investors to lose patience with the lagging stock. IBM shares are down 6 percent for the past year.
