Recently I was criticizing chart reading. When I look at IBM's chart though its long term prospects are decidedly negative. You can see the well defined broadening top, collapsed peak, break down through the neckline, which are associated with the market perception that IBM's earnings are deteriorating. On this front they're not alone and we've yet to get to the "fun and games". Meanwhile,
Buffett Praises IBM Profit Prospects After Share Slump
By Sarah Frier & Noah Buhayar - Oct 22, 2013 9:01 PM PT
Warren Buffett, who invested more than $11 billion in International Business Machines Corp. (IBM), said he is confident in the computer-service provider’s prospects after the stock slumped last week.
“They will have a record per-share earnings this year,” Buffett, 83, said on the “Charlie Rose” show, according to a transcript of the interview, which was scheduled to air late yesterday on PBS. “That can be disappointing if you expected more. But it is not a bad record, believe me.” |
