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IBM is a financial engineering firm, not a technology company anymore: http://dealbook.nytimes.com/2014/10/20/the-truth-hidden-by-i...

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If you only care about stock price, and even then no.

IBM is a large company that does a lot. They put more money and people towards pure tech than most firms, especially in places like IBM Research.

What people remember them the most, is their R&D. The beat Intel to create the first 7nm chip process recently.

Between Alamaden (San Jose) and Yorktown Heights (NY) in the US, IBM is one of the last few industrial basic sciences/engineering labs in the US, resembling Bell Labs and Xerox PARC from a few decades ago.

The Almaden Research Center is still a top-notch research facility.

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