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International Business Machines (IBM) had already shocked investors with its preliminary earnings warning, sending the stock sharply lower even before the company released the Q2 report last week. However, a closer look at the earnings call revealed a more balanced picture of the business. While the earnings miss was real, so were many overlooked positives in the quarter. With IBM stock down 23% year-to-date (YTD), here are three encouraging trends that suggest the market may have overreacted.
