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IBM: Dead Money or a Turnaround Tech Stock?

IBM: Dead Money or a Turnaround Tech Stock?

IBM's (NYSE: IBM) stock recently dipped after the tech giant posted its third-quarter numbers. Should investors assume IBM's stock is dead money for now, or is it still an undervalued turnaround play with a generous dividend? IBM's core growth engine during the quarter was its Cloud and Cognitive Software unit, which houses Red Hat, its cloud services, and its AI tools.