Nas...
I agree pretty much with the comments about this quarter. Seems that they could have tempered them and put a little more positive spin out (do they need to lease MSFT's professional spin doctors, or what ?).
This aside, EVERYONE, especially Niles of BBRS and some other ANALysts, seem to CONVENIENTLY FORGET that "IBM FORESAW ALL" of this in their end of year comments, forcasts at the end of '98 - basically trying to front-end load the year regarding revenues & profits, etc. etc.. NOBODY wants to realize this at this time/most people have extremely short memories.
I also wish that the St. would see this for what it really is - a huge, extremely DIVERSE (!) company that is still making $20B + a quarter (!) (how many cos. can lay claim to even a percentage of this ?) that is working its way through this temporary glitch in its path & plan for the future. Look deeper at the specific parts of the report - esp. the huge, consistent, reoccuring/increasing revenue streams from the S/W and Services groups, Microelectronics, the rest of the world coming back from some of their problems, etc. etc. etc.. It's diversity in portfolio will smoothe out these temporary "bumps" in the road.
But then, again, in the "lemming, herd-mentality" world of Wall St., it's ALWAYS - "...So what ? What have you done for ME lately and in the immediate future ???"
-- "Investing" is becoming "passe," - "Day Trading" rules !!! NOT !!!!
Once this stuff settles down and all the MM's have gotten MORE IBM into their portfolios at these new lower prices, look for them to come out with the upgrades again, looking to move things upward in their benefit.
JMHO, KO |
