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Sure, IBM Has Gained 3,400,000% But Is It a Buy Now?

  • Company listed 100 years ago on the New York Stock Exchange
  • `A number of trends have passed them by,' analyst says
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IBM Celebrates 100 Years on the NYSE: Is It a Buy?

Corrected

On Nov. 11, 1915, exactly three years before the end of World War I, IBM listed for the first time on the New York Stock Exchange -- its name then Computing-Tabulating-Recording Co. With the stock down 16 percent this year, some investors are weighing whether to hang on as IBM starts a second century.

IBM isn’t making a big deal of Wednesday’s 100th anniversary, which comes at an inauspicious time. Its stock has been the second biggest drag on the Dow Jones Industrial Average this year. Since International Business Machines Corp. was added to the index on June 29, 1979, it’s grown just 1,700 percent compared with more than 6,000 percent for the entire Dow.