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International Business Machines CorpIBM

Morningstar Rating

Stock Research and Analysis

by Grady Burkett, CFA

IBM holds a defensible position in enterprise software, services, and hardware. While each of these businesses is an industry leader in its own right, the combination of these products and services provides the firm with an unrivaled solution creation Read more

Bulls Say

Mainframes tend to be popular in the financial services and telecom sectors. Increasing emerging-market investments in these areas provide growth opportunities for the mainframe business.

IBM has been continually adjusting its product portfolio to focus on the noncommodified portions of IT, enabling the company to generate healthy profits.

IBM's services relationships provide great insight into customer requirements, which benefits new product development and research initiatives.

No single competitor offers the breadth of products and services provided by IBM, making the firm an unrivaled single-stop vendor for IT departments.

The advent of cloud computing will drive large enterprises to develop their own private clouds, and IBM is well positioned to build and manage such clouds for customers. Read more

Bears Say

The mainframe's addressable market will shrink as new virtualization technologies enable IT personnel to cost effectively deploy and manage workloads across collections of commodity x86 servers.

The advent of cloud computing is making large amounts of computing capacity available for rent on-demand and will reduce customers' purchases of IBM's high-end systems.

Customer appetite for multimillion-dollar IT systems has been dampened by the economic downturn and will not return for a long time. Read more

Management

IBM's management team has adroitly navigated the secular trend toward distributed, open standards computing by diversifying its hardware platforms, broadening its software portfolio, and building a formidable services organization. The result has been Read more

Profile

IBM is one of the largest IT companieswith an array of offerings, including system hardware,infrastructure software, outsourcing, and systems integrationservices. The firm Read more