In late October, I warned investors to avoid IBM stock.
At that time, the stock was trading around $162 per share. Today it is trading at a shade under $158 per share, and could be heading much lower.
"Big Blue's" transition, or perhaps we can call it "turnaround," is at best stalling, and at worst, setting investors up for more disappointment as evidenced by its fourth-quarter (2014) earnings report.
In fact, let's cut to the chase right away: IBM's just reported fourth-quarter earnings laid another egg.