IBM is generally doing very well with its semiconductors.
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Regardless, with less than 1% of their revenue from semis, they are not a semiconductor company. IBMs is a computer and storage media company. I know -- I have been calling on them for over 25 years and know many folks there.
Lots of companies make some semi devices. And they are not semiconductor companies, per se.
Besides which, Motorola is no longer a chip company at all. They spun off their discrete business to On Technology and then the rest of their semiconductor business to FreeScale Semiconductor. After a disastrous decade, Motorola decided to focus on mobile phones instead of chips.
True, semiconductors are a small part of their business, but with this statement: "To think they could swim in the same pond with Motorola, Intel and AMD is a bit arrogant" you seemed to say that IBM is not capable of competing. It is highly capable, it's only a matter of will.