real-time news and commentary for investors
Wednesday, Oct 16
Enterprise IT stocks slip AH thanks to IBM
- IBM's $1.07B Q3 revenue miss, caused in large part by a 15% Y/Y drop in Asia-Pac sales and a 17% decline in hardware sales, (including a 40% drop for hardware sales to China), is pressuring several enterprise IT peers a bit in AH trading.
- IBM's numbers come two days after Teradata warned of a major Q3 decline in Asian sales. The hardware figures will likely stoke additional concerns about share losses by IBM and peers to white-label OEMs selling to major Web/cloud service providers.
- HPQ -0.8% AH EMC -0.9%. VMW -0.5%. RHT -0.6%.