americas

Cash Does Not Mean Capex, IBM Edition

By Jeffrey P. Snider|2014-04-17T11:36:48-04:00April 17th, 2014|Economy, Markets|

Related to yesterday’s observations about corporate cash, the broken record of IBM revenue continues to demonstrate the unwillingness of American businesses to freely spend on capex. While attention continues to focus on China and Asian results, not without good reason, the domestic and larger “Americas” segment continues to drag. Revenue in China is down 20% Y/Y, reflecting both economic and [...]

More of 2008 From IBM

By Jeffrey P. Snider|2013-10-17T10:43:34-04:00October 17th, 2013|Markets|

Quarterly results from IBM are watched because they serve as a proxy for business spending across the globe. Capex in the modern world often takes the form of technology/computer investments. In fact, productivity growth in the past three decades has been driven, at the margins, by corporate investments in digital technology. Ever since late last year, IBM has been keeping [...]

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