IBM Sees Strong Growth Ahead

In my previous post, I recommended buying shares of International Business Machines. IBM handily beat estimates after the market close. The company reported earnings of $3.28 per share, easily topping consensus of $3.03 per share. IBM's guidance for the fiscal year 2009 also topped estimates by a handful. Considering that IBM and Intel have both reported strong fourth quarters, Apple should follow particularly because of their large integration with Intel's products. Apple reports tomorrow and I would suggest picking up some shares before earnings are released. There remains the concern that Apple's guidance will not be as promising because of their history to forecast extremely conservatively but given the recent hammering of the stock, I think it's worth the risk.