First paragraph of a timely IBM reality check by Charles Fitzgerald
“In our last installment of doing tomorrow’s technological paleontology today, I laid out my case for why IBM’s future looks different than the last decade because financial engineering isn’t the kind of engineering necessary to make the transition to the cloud. For my efforts, I got a lot of financially-oriented pushback that basically amounted to “past performance is in fact an indicator of future performance” and pointers to predictions from all-knowing Wall Street analysts who think IBM stock is going ever higher. I don’t pretend to know where the stock market is going in the short term, but I do believe IBM faces massive headwinds in the midst of a generational shift in technology. Interestingly, people associated with IBM were unanimous in their agreement with my thesis, both publicly and privately.”
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