Is IBM Stock a Buy at an All-Time High?

It's been a long road for International Business Machines (IBM -1.00%) investors. The company kicked off a transformation effort more than a decade ago, forced to adapt to a tech industry that was rapidly embracing cloud computing. Years of inconsistent results followed as the company exited businesses and spent many billions of dollars on acquisitions.Some initiatives, like the company's early efforts to apply artificial intelligence (AI) technology to healthcare, were abject failures. Others, like the acq ...