not vested
Blue-Chip Stocks That Aren’t Really Blue Chips: IBM
Let’s start with International Business Machines Corp. (NYSE:IBM), a former blue-chip stock, which the world has left so far behind that even Warren Buffett sold out of his position.
IBM may be trying to expand its presence in cloud and security services, but its legacy businesses are toast.
IBM seems more infatuated with spending money to repurchase its own overpriced stock.
EBIT has declined from $16.4 billion in 2015 to $12 billion last year.
Free cash flow is terrific but the $132 billion valuation IBM is ridiculous for a moribund company.
Source: Investor Place