We had been expecting Arvind Krishna to become IBM's new leader, given the company's focus on cloud.
The change of guard is likely to help catalyze IBM's transformation from an IT company into a cloud-first platform company.
The management commentary during IBM's Q4 earnings resonates with our expectations of the company's business transformation.
Convergence of IBM's portfolio offerings is likely to lead to revenue and cost synergies, which could lead to a 70% appreciation in the company's stock price.
IBM (IBM) has made a multitude of acquisitions over the last decade. Not only has Red Hat been the most expensive of IBM's exploits but also has it been the most transformative among