The market has spent the last several years obsessed with quarterly revenue declines at IBM (IBM), so much so that my investment thesis consistently told investors to pay attention to the yields. The company's Q3 results support the benefits once a negative gets removed from the equation. The stock ended up some 9% in trading on Wednesday following the quarterly numbers, suggesting a reversal in the negative revenues trend. Is the stock still a buy around $159 now?
IBM plunged following Q2 results as the company reported disappointing revenues. The tech giant originally showed promise towards reversing the negative quarterly revenues trend last Q3, but ended up reporting a nearly 5% dip in the June quarter. That sent the bulls scrambling.