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Forbes investment strategist Vahan Janjigian suggested by small tech stocks and IBM. Lets see how his pick goes!
IBM reported a 12% rise in their Q4 profit, and issued a 2009 profit projection that bested Wall Street's expectations.
IBM reported revenues of $25.3B and a net income of $2.8B. Its gross margin rose to 43.3% compared to 41.3% a year ago. IBM's 22% increase in net income was most attributable to an 8% growth in its software division.
IBM's symphony software, the company's equivalent to Microsoft Office, is available for free download off the IBM website. Now, however, IBM will offer to sell software support for $25,000/yr to companies. Google does a similar thing with its software.
IBM announces a newly signed $45 million contract with India's government to update the IT infrastructure of India's income tax system.