IBM is often viewed as a bellwether stock for the tech industry. Its earnings points to how other companies are investing in tech — or lately, how they are not. Earlier this week, the company announced slightly increased earnings for the third quarter but a decline in revenue. No one stock is truly a tech bellwether, said Mike Tarsala, chartered market technician for Covestor, “but IBM is both the biggest and broadest supplier — and its across-the-board revenue weakness was a shock for the entire technology group.”
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IBM's Weakness Rattles Tech Sector
Posted by: Erika Morphy October 18, 2012 03:19 PMIBM is often viewed as a bellwether stock for the tech industry. Its earnings points to how other companies are investing in tech — or lately, how they are not. Earlier this week, the company announced slightly increased earnings for the third quarter but a decline in revenue. No one stock is truly a tech bellwether, said Mike Tarsala, chartered market technician for Covestor, “but IBM is both the biggest and broadest supplier — and its across-the-board revenue weakness was a shock for the entire technology group.”