It’s a very different company post the PwC purchase. They have around 1/3 of the revenue from consulting which tends to push the valuation down due to its relative low margin when compared to software. This also inflates the number of employees.

Oracle/TSMC/SpaceX isn’t in consumer products/services, but they are heard about.

IBM was declining for 10 years while the rest of the tech related businesses were blowing up, plus IBM does not pay well, so other than it being a business in decline, there wasn’t much to talk about. No one expects anything new from IBM.

Also, they had quite a few big boondoggles where they were the bad guys helping swindle taxpayers due to the goodwill from their brand’s legacy, so being a dying rent seeking business as opposed to a growing innovative business was the assumption I had.