IBM Has a Lot to Prove in 2021

The century-old tech giant was already disliked by investors before the pandemic as it slogged through a multiyear turnaround; the company's results have deteriorated since, as customers pull back on spending amid unprecedented uncertainty. While there were some green shoots in IBM's results, it's clear that the company has a lot of work to do to win over investors this year. IBM's total revenue for the fourth quarter sank 6% to $20.4 billion; it was down 8% adjusting for divested businesses and currency.