That's from Toni Sacconaghi who has not liked IBM for a long time. I believe he had a $160 price target on IBM in 2012. He has long questioned how IBM would grow enough revenue to hit the $20 per share 2015 boggy. He thinks it should have a lower p/e and he just isn't an IBM fan from the tone of his CC questions. But his concerns about revenue have been born out. He has also been amazed at the increase of IBM's efficiency and product mix in the form of IBM's Services margins. He pointed out a couple of calls back that IBM's margins were better than all of its Indian competitors.
Toni Sacconaghi has been a big fan of AAPL and HPQ. I'm pretty sure he still has a $600 price target for AAPL. I believe he had a $60 target for HPQ before the last CEO was ousted after he paid $10 bil for Autonomy and announced that the PC division would be sold or spun out -- when it couldn't possibly be sold or spun out with 15%+ annual revenue drops just ahead.
So Tony has mixed results for the stocks that I look at.