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Analysis of IBM’s First Quarter Business Results

Waiting for Godot…

IBM Global Services’ Growth Stalls, Hardware’s Plummets 12%

LONDON, Apr. 20 - Hope springs eternal.  When all else fails, a prayer might have to do.  That’s about all that’s left for the enthusiastic supporters of the IBM stock.  Many are still clinging to it like a dog with a bone, hoping and waiting, hoping and waiting…

Waiting for what?  For the flesh to grow  back on the bone?  For Wall Street to turn sane?  For “Louis XIX” to abdicate his throne? 

Better not to ask.  For, you won’t get an answer to such questions anyway.  Just as you’ll never find out what Estragon and Vladimir[1] are waiting for in Samuel Beckett’s “Waiting for Godot.” 

Indeed , this masterpiece of the “theater of the absurd,” written in French in 1948, translated by the author into English, and first performed in London in 1953, very much epitomizes the current situation with the Big Blue stock on Wall Street.  Things are suddenly looking so bad after seeming so good for so long that everybody is hoping for something momentous to happen; something that would bail them out of a losing investment.

[1] Estragon and Vladimir are two main characters in this play.  Estragon symbolizes the body; Vladimir the intellect.  Thus, they cannot live apart.


Our report then goes on to analyze the IBM business results by both, the Profit & Loss and Balance Sheet categories.

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Happy bargain hunting!

Bob Djurdjevic

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Volume XVI, No. 2000-12
April 20, 2000

Editor: Bob Djurdjevic
Published by Annex Research;
e-mail: annex@djurdjevic.com

P.O. Box 97100,      Phoenix, Arizona 85060-7100
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