In a most forgettable of years for most investors, perennially patient International Business Machines (NYSE: IBM) shareholders have reason for cheer. The stock has been walloping the market. With just a couple of weeks to go until 2023, IBM is up 10% in 2022 (including dividends paid) versus a negative 18% total return for the S&P 500.  

If you've been following along, this stellar performance is no surprise. IBM has been clearly broadcasting its plans to get its business back on track for quite some time. There are valuable lessons to be learned from how the ancient computing technology giant pulled it off. 

To understand how IBM is knocking socks off, you need to revisit some critical action taken by CEO Arvind Krishna and the top team back in 2021. Specifically, I'm talking about Krishna and the company's decision to offload the legacy "managed infrastructure" business, which since late 2021 is its own separate independent company known as Kyndryl (NYSE: KD). You can read about that in this article from October 2021. 

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Source Fool.com