The tech giant is being propelled by higher tech spending and a shift toward one-stop shopping for hardware, software, and services
As goes corporate computer spending, so goes IBM. At least, that’s what aficionados of what may be the technology business’ most co-dependent relationship are banking on.
IBM’s $7.6 billion in net income in 2003 (up 12%) on $89 billion in revenue (up 10%) came primarily from corporate sales. That upturn ended a three-year drought during which business tech buying had stagnated, says Steve Paspal, senior research analyst at Sovereign Asset Management in Berwyn, Pa.