IBM (NYSE: IBM) has a dismal reputation as a long-term investment. IBM repeatedly failed to impress investors as the sluggish growth of its legacy infrastructure services, hardware, and business software units offset the stronger growth of its newer cloud-based services. Its myopic commitment to cutting costs and boosting its earnings per share (EPS) with buybacks also caused it to fall behind Amazon, Microsoft, and Alphabet's Google in the growing public cloud infrastructure market.
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