IBM surprised analysts with news that it had shipped 25,000 AS/400s by the end of November – substantially more than most thought it would do for the full year: at an average price of $200,000, that reprents $5,000m of business and as 30% have gone to sites not previously using System 38, 36 or 34, that implies a $1,500m increase in the value of IBM’s mid-range base.
