IBM “value creation”:
Stock buybacks since 2012: $37.7 Billion...
Debt issued since 2012: $33.6 Billion
IBM is still following an old model. It acts like all computers are just tiny mainframes they control. They are delusional about the cloud security (lack of cloud security).
Their management is running the company using cliff notes of “how to run a 1950’s corporation”.
I don’t think they even know what business they are in.
I believe saw the same article I did. It explained how nearly zero interest rates and financing, means that companies can even buy their own products, providing a boost to sales and profits, which will boost their stock price.