IBM: Dead Money or a Turnaround Tech Stock?
IBM's (NYSE: IBM) stock recently dipped after the tech giant posted its third-quarter numbers. Its revenue fell 2.6% year-over-year (down 3.1% excluding divestments and currency) to $17.6 billion, matching estimates but marking its third straight quarter of declining revenue. Its adjusted EPS fell 4% to $2.58 but also met expectations.
IBM cleared Wall Street's low bar, but it didn't attract many new investors ahead of its planned split into two companies next year. Should investors assume IBM's stock is dead money for now, or is it still an undervalued turnaround play with a generous dividend?
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Source Fool.com
