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September 11, 1990

IBM LOOKS FOR NEW PRODUCTS TO DOMINATE ITS 1991 SALES; 1990 STILL LOOKS GOOD

By CBR Staff Writer

IBM looks to derive two thirds of its business in 1991 from products announced this year and next, senior vice-president Michael Armstrong told the Montgomery Securities Investment Conference in San Francisco, adding that workstations were one of the key product lines he had in mind. And IBM, which is consistently more bullish about its own prospects than are the analysts that follow the company, says that it is still expecting modest growth in the US economy this year. Our economists believe there remains to be growth this year and it will be modest and it will not be negative, Armstrong said. We are not looking for a boom in the US. We are not looking for a recession. He also said that chairman John Akers’ forecast of significant profit improvement still holds true: we still see that as a statement we will stand behind, Armstrong affirmed. He also said that 1991 will be a very active year for Personal Systems products.

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