Although I doubt there were many investors still holding serious hope that the first quarter of 2013 was going to end up being a good one for tech companies, IBM (NYSE:IBM) likely snuffed out those hopes with an uncommonly weak quarter. With Big Blue missing for the first time in eight years, and missing across the board, it's pretty clear that business conditions have slowed markedly. Management remains optimistic that business will recover with a strong second half, but even with the big post-earnings decline these shares are not exactly cheap.
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http://www.investopedia.com/stock-analysis/041913/ibm-makes-it-official-tech-has-some-troubles-ibm-emc-orcl-hpq.aspx
Investopedia: IBM Makes It Official - Tech Has Some Troubles
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