Dim outlook: IBM has been restructuring its business to focus on high-margin products such as cloud, mobile security and big data, but has failed to make up the shortfall with newer initiatives.
International Business Machines Corp's shares touched a five-year low on Jan 20, a day after the company forecast weak earnings, underscoring challenges in its software business as it transitions to new growth areas.
The company's shares were down 6% at US$120.40 (RM526.57) in early trading. At least 11 brokerages lowered their price target on the stock.
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