International Business Machines Corporation

International Business Machines Corporation, better known as IBM, is an American multinational technology and consulting corporation, with headquarters in Armonk, New York. It was first founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and was renamed to International Business Machines in 1924.

IBM manufactures and markets computer hardware and software, offers infrastructure services, hosting services, and consulting services in areas ranging from mainframe computers to nanotechnology. The company is a member of the Dow Jones Industrial Average, the S&P 500, and the Fortune 500, and it is globally considered a major technology and international consulting company.

Over the years IBM has shifted its focus more towards areas like cloud computing and artificial intelligence, with IBM Watson being its flagship AI offering. That being said, IBM's business is spread across several segments including Cloud & Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.

IBM has a long history of innovation and has one of the largest patent portfolios among U.S-based companies. In recent years, however, growth has been challenging due to increasing competition and rapid technological changes. IBM's revenues have been declining for several years, though the company remains profitable.

From an investment perspective, IBM's stock has underperformed the broader market for several years. The company's ability to grow its newer businesses to offset declines in its traditional businesses is something potential investors should closely follow.

IBM has a long-standing dedication to returning capital to shareholders. Its dividend yield has often been higher than average due to consistent dividends and a depressed stock price. This might make it an attractive proposition for income-focused investors.

However, the future performance of the company and its stock price will depend on IBM's ongoing transformation and its ability to innovate and gain market share in the emerging technology areas it is pursuing, like AI, hybrid cloud, and quantum computing.

As with any investment, it's important to carefully consider your own investment goals, risk tolerance and time horizon before making a decision.