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stock, IBM.

International Business Machines CorpIBM

Morningstar Rating

Stock Research and Analysis

by Sunit Gogia

IBM's technological leadership and sticky products and services will enable the company to deliver steady recurring revenue for a long time.

IBM's offerings cover a wide swath of the technology industry, including hardware, software and services. The Read more

Bulls Say

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

IBM has been continually adjusting its product portfolio to focus on the noncommoditized 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 unrivalled 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 multi-million-dollar IT systems has been damped by the economic downturn and will not return for a long time. Read more

Strategy

IBM aims to help customers solve complex IT problems with custom solutions that include IBM's hardware and software deployed by the firm's large consulting staff. The company has been moving away from Read more

Management

Sam Palmisano has been CEO of IBM since 2002 and chairman of the board since 2003. Although the firm has done well under his stewardship, we would prefer to see a separation of CEO and chairman roles to improve accountability. Palmisano's total 2008 Read more

Profile

IBM is one of the largest information technology companies with an array of offerings including system hardware, infrastructure software, outsourcing, and systems-integration Read more

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