IBM has a secret weapon in the cloud wars with Amazon
Source: Matt Weinberger
IBM is going through a painful transition.
Just this week, the 104-year-old company announced a miss on its quarterly earnings ― the fourteenth quarter in a row that IBM posted lower revenues than a year ago. Wall Street analysts remain wary, and IBM stock is getting pounded.
But IBM insists there's a bright spot: Its cloud computing business, which it says grew 65% in this last quarter versus the same period in 2014.
At the same time, companies like Amazon, Microsoft, and Google have been aggressively growing their own cloud businesses, slowly but surely eating the market. Amazon Web Services alone is a $7 billion beast of an IT business.
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