Lehman Brothers analyst Don Young reckons that IBM Corp shares are deeply undervalued on grounds that it will enjoy a recovery in mainframe profitability with the migration to CMOS technology. He said that in an April survey of bipolar mainframe demand, demand was surprisingly strong and while he could not yet confirm the reason for strong bipolar demand, the improvement came from IBM’s largest users. But couldn’t that just mean that IBM’s biggest and most valued customers have turned their backs on Parallel Sysplex and will never go CMOS – and least not while there is another monolithic bipolar offering from Hitachi Data Systems.
