Not sure how long you can keep cutting costs and buying back shares when the source of those funds continues to shrink. After hours is looking like a disaster. CEO must have sneezed funny during the conference call.
forever ... actually IBM could buy back every share extant .. and retire them so as to not be holding more than
5% AND HAVE TO FILE AS AN INSIDER .... lol .... or they could buy'em and hold'em to take the company
private .... 95% of these board gourds should watch , listen , read , synthesize and learn ...
It really does not matter at "this moment". there has been no growth for most companies for a long time. all the profit are come from share buyback and cutting cost. it will matter sometime in the future, but no one cares for now.