Norway’s Wealth Fund Exposed to a Struggling IBM
Over the past few years, Armonk-based International Business Machines Corporation (IBM) has struggled to boost total revenue. Regardless of the blue chip stock’s sales generating dilemma, institutional investors like BlackRock and Fidelity Investments remain invested in the company. The revenue problem is not going away as overall quarterly sales fell for the 13th straight quarter. IBM also known as Big Blue reported a 13% drop in sales recently.
On a recent earnings call, IBM CFO Martin Schroeter attempted to reassure investors that IBM is making long-term investments in cloud computing and data analytics.
Meanwhile, the company maintains a good following of investors on the institutional side. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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