Thesis
IBM's (NYSE:IBM) turnaround is working. I estimate the company to start growing again next year. This is largely due to their strategic imperatives which have now reached critical mass. Furthermore, IBM's competitive position in the cloud is being underestimated. Investors can pick up 3.9% yield now that pessimism is high.
IBM's turnaround
Much has been said about IMB's "strategic imperatives", but how effective are these imperatives and how does it stack up to the competition. IBM's strategic imperatives can be broken down in three parts:
