IBM is a much more pervasive company. I'm going to be very interested in how they've done in software and global services. That is a very strong snapshot as to what final demand is for corporate information technology spending.
More Quotes from Bert Hochfeld:
They have absolutely no idea why they buy and sell stocks. They read headlines and they watch price changes.Bert Hochfeld
I think the stock had been very extended in terms of valuation, in any event, so I think it was very vulnerable to something like this. I think that the valuation of the shares at several hundred times revenues was so extreme that it didn't take much.
Bert Hochfeld
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