Many tech stocks have soared as markets recovered from the pandemic-driven sell-off early last year. IBM (NYSE: IBM) is an exception. The century-old tech giant was already disliked by investors before the pandemic as it slogged through a multiyear turnaround; the company's results have deteriorated since, as customers pull back on spending amid unprecedented uncertainty.
IBM's fourth-quarter report last week sent the stock down around 10% on Friday, erasing the gains logged so far this year. While there were some green shoots in IBM's results, it's clear that the company has a lot of work to do to win over investors this year.
Image source: Getty Images.
Source Fool.com