IBM Corp shares lost $3.4375 at $90.875 on Monday as Wall Street continued its descent, and were looking pale and interesting yesterday, off another buck or so. They are now down 29% from its high hit on February 27 – which some see as a buying opportunity, especially as there appears to have been no specific news to occasion the fall. The problem with IBM as an investment play is that in the past, it was that rarest of commodities, a growth stock that paid a handsome and rising dividend, wher e now it is neither – growth is all a matter of hope and there has been precious little so far, and the dividend not only looks parsimonious to long-time IBM holders, but the company has warned them that the old days of high payouts are gone forever
