International Business Machines Corp.’s inventory declines. Again.
The tech company, whose shares have been declining steadily since peaking in 2013, slipped 9.9% on Friday after reporting a decline in sales for each quarter of 2020.
The stock move puts IBM’s performance among Dow components in a familiar spot: at the bottom.
According to the Dow Jones Market Data analysis, IBM was the biggest single attraction on the blue-chip index between its climb from 20,000 in January 2017 to 30,000 in November last year. Although the stock market rose to numerous records over time, IBM shares fell and shaved off 367 points from the Dow.
The trend has continued ever since, and IBM is one of the worst performing Dow components since the 30,000 milestone.