In July 2012, when IBM's (IBM_) stock was about where it is today, I wrote a piece headlined, "Is Wall Street Ignoring Risk at IBM?."
As it turns out, it was. IBM's stock soared to a high of around $215 from $186 on the day the piece ran, which is higher than it is today.
All investors cared about was that the company beat earnings and it that wasn't veering from its so-called 2015 "roadmap," which is supposed to deliver earnings per share of $20.
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