IBM abandons 2015 Plan

International Business Machines Corp. (IBM) said it will no longer reach its earnings forecast for 2015, ditching a five-year profit goal as the company struggles to transform quickly enough to cope with an industrywide shift to the cloud-computing era.

IBM said it will provide an update on its 2015 projections in January, according to slides disclosed in a regulatory filing today. The shares tumbled as much as 9.3 percent in early trading.

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Stuart McIntyre is a Senior Strategist at Fostering Community Limited. He curates a number of product-focused news sites, is a lapsed podcaster, founded the Social Connections user group and regularly speaks at conferences and events. This blog represents his own slightly-eccentric and usually-controversial opinions!