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M9560-231 exam Dumps Source : IBM Software Subscription & Support Sales Mastery Test v1
Test Code : M9560-231
Test Name : IBM Software Subscription & Support Sales Mastery Test v1
Vendor Name : IBM
: 20 Real Questions
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For greater than a century, IBM (NYSE:IBM) has been a great dividend inventory for buyers. The business has paid a dividend every year for the reason that 1916 and has expanded the dividend for a existing streak of 18 years in a row. Its 4.7% present dividend yield is tempting in a low-activity cost atmosphere, chiefly in comparison to the decrease S&P 500 yield of 2.1%.
however, IBM faces a number of challenges that have made it intricate for the enterprise to grow in recent years. This might put pressure on the company's means to increase the dividend going ahead. besides the fact that children Microsoft's (NASDAQ:MSFT) yield is lessen, the business is growing to be and has numerous cash elements to preserve expanding its dividend over time.IBM is getting left behind
For a couple of years, IBM has been step by step shifting its income from legacy hardware and capabilities to quicker-growing areas, corresponding to blockchain, cloud, cell options, and information analytics to place itself for lengthy-term growth. however, because it does so, large Blue is coming into areas where extra nimble competitors have already crushed it to the punch and are well entrenched.
here's most top notch in IBM's cloud company (about 24% of total profits), the place the company is much in the back of Amazon.com and Microsoft -- the accurate two market-share leaders. more and more establishments are moving their total records systems over to the cloud. Amazon has garnered the correct spot within the cloud market with fifty two% market share, in line with analysis company Gartner. Microsoft became late to the cloud market however caught up rapidly, earning the 2nd spot in the back of Amazon with 13% market share. meanwhile, IBM has most effective managed to seize 2% of the market.
Microsoft's Azure cloud enterprise grew profits 76% 12 months over yr within the third quarter, sooner than Amazon web functions. With every corporate client Microsoft picks up, it really is one less consumer for IBM.
IBM is not displaying any signal of catching as much as its opponents. Amazon and Microsoft are the hares during this race, whereas IBM is the sluggish-moving tortoise. it's why IBM went out and spent $34 billion lately to purchase pink Hat, to just about buy its way to the accurate of the cloud, but some analysts remain skeptical about IBM's method.If IBM would not grow, dividend increases will get intricate
huge Blue has been attempting to enhance its growth for many years and hasn't managed to get the needle relocating. Over the closing 10 years, IBM's income and free money circulation -- out of which dividends are paid -- hasn't grown, as that you could see during this chart. additionally, note how IBM's working performance is a replicate photograph of Microsoft's regular increase.
The challenges IBM faces are so extreme that one analyst boldly stated that large Blue's salary are in an "irreversible structural decline." Many other investors appear to be in agreement, which is why IBM inventory trades at this kind of low price-to-income ratio and presents the sort of high dividend yield. Analysts are expecting the business to grow profits just 0.ninety six% over the subsequent 5 years.
IBM has managed to develop its dividend payout per share 207% over the closing decade, but this is because of an increase within the payout ratio from lower than 20% of free money circulation to forty four% over the last yr. also, the business artificially boosted its dividend per share through repurchasing shares.
additionally, IBM has $21.5 billion of web debt on the stability sheet with a further $15.8 billion in retirement-related tasks, which could make it difficult for the company to boost the dividend going forward. That stage of debt would not include the financing required for the $34 billion red Hat acquisition, which could be financed via a mixture of cash and debt.a stronger dividend inventory for the long haul
In stark contrast, Microsoft is soaking in money, and working efficiency has been stellar. on the end of the third quarter, the software tremendous had $fifty nine.7 billion of web cash and generated $32 billion of free cash circulation over the final 12 months. Microsoft will pay out 40% of free money flow in dividends.Metric IBM Microsoft cash $14.5 billion $136 billion Debt $47 billion $seventy six billion income (TTM) $eighty billion $a hundred and fifteen billion web salary (TTM) $5.7 billion $19 billion Free money flow (TTM) $12.7 billion $32 billion Dividend yield four.7% 1.7% Dividend payout as a percent of free money flow 44.2% 40.four% ahead price-to-revenue ratio eight.seventy five 20.ninety three
whereas IBM's moat looks to be ceaselessly shrinking, Microsoft enjoys a wide moat in accordance with its dominance with its home windows operating gadget, and the familiarity users have with its office application. greater of Microsoft's income is coming from ordinary subscription charges, corresponding to workplace 365. The software giant has considered consistent boom in its flagship windows and workplace items currently.
Analysts predict Microsoft to develop revenue 14% per 12 months over the next five years, which is in keeping with the enterprise's fresh efficiency. At that expense of boom, earnings and free money move would well-nigh quadruple over the subsequent decade. Microsoft may boost its dividend payout via a proportionate quantity.
Take a glance at the chart below. Over the remaining 10 years, Microsoft has multiplied its dividend at a a bit quicker pace than IBM however Microsoft will pay out a little less of its free cash movement as dividends.
IBM's dividend increases have been made via increasing the payout as a percentage of free money flow, whereas Microsoft accelerated its dividend partly via boom in free cash flow, which is ideally what dividend traders want to look for.
successful dividend boom investing may also be very lucrative down the road, as those dividend payments get bigger and bigger, and or not it's now not complex to achieve. You stack the odds extremely in your choose via investing in a corporation that has proven increase in free money circulation and prevent agencies that haven't.
Over the long term, traders are at an advantage investing in extensive-moat Microsoft, which could normally develop its revenue and earnings to finance higher dividend payments over time. Microsoft presents buyers both abilities capital appreciation and rising profits over time; those are two issues that IBM can also not be able to generate for shareholders.
John Mackey, CEO of whole foods Market, an Amazon subsidiary, is a member of The Motley fool's board of administrators. Teresa Kersten, an worker of LinkedIn, a Microsoft subsidiary, is a member of The Motley idiot's board of directors. John Ballard owns shares of Amazon. The Motley idiot owns shares of and recommends Amazon. The Motley idiot owns shares of Microsoft. The Motley fool recommends Gartner. The Motley idiot has a disclosure coverage.
through Liana B. Baker and Greg Roumeliotis
(Reuters) - IBM Corp talked about on Sunday it had agreed to acquire U.S. utility company pink Hat Inc for $34 billion, including debt, because it seeks to diversify its technology hardware and consulting company into bigger-margin items and services.
The transaction is via far IBM's greatest acquisition. It underscores IBM Chief govt Ginni Rometty's efforts to expand the company's subscription-based software choices, as it faces slowing software earnings and waning demand for mainframe servers.
IBM, which has a market capitalization of $114 billion, pays $190 per share in cash for crimson Hat, a 63 p.c top class to Friday's closing share price.
centered in 1993, pink Hat specializes in Linux operating techniques, probably the most normal class of open-supply software, which turned into developed as an alternative choice to proprietary utility made by way of Microsoft Corp.
Headquartered in Raleigh, North Carolina, pink Hat fees costs to its corporate valued clientele for custom aspects, protection and technical help, providing IBM a profitable supply of subscription income.
purple Hat is among the only a few businesses within the cloud computing sector that has both earnings boom and free cash stream, Rometty, who has been IBM's CEO because 2012, mentioned in an interview with Reuters.
"This acquisition we're naturally doing for increase synergies. here is now not about cost synergies at all," Rometty stated within the interview.
The acquisition illustrates how older expertise companies are turning to dealmaking to profit scale and fend off competition, principally in cloud computing, the place shoppers the usage of commercial enterprise software are seeking to shop cash with the aid of consolidating their vendor relationships.
IBM is hoping the deal will help it capture up with Amazon.com Inc, Alphabet Inc and Microsoft within the rapidly becoming cloud business. IBM shares have misplaced essentially a 3rd of their cost during the past 5 years, while purple Hat shares are up a hundred and seventy p.c over the same length.
"This deal represents the fruits of IBM's present partnership with crimson Hat, and, in their view, allows for IBM to gain a extremely strategic asset to develop its hybrid cloud initiatives," Barclays analysts wrote in a analysis notice.
They introduced that for the deal to work, it become important for IBM to uphold pink Hat's neutrality when it got here to working structures and maintain red Hat's open-source and multi-cloud position available in the market.
IBM changed into centered in 1911 and is primary in the know-how trade as big Blue, a reference to its once ubiquitous blue computer systems. It has confronted years of income declines, as it transitions its legacy computing device maker enterprise into new know-how products and services. Its contemporary initiatives have blanketed synthetic intelligence and company lines round Watson, named after the supercomputer it developed.
To be certain, IBM is not any stranger to acquisitions. It got cloud infrastructure provider Softlayer in 2013 for $2 billion, and the weather Channel's statistics belongings for more than $2 billion in 2015. It additionally bought Canadian company application maker Cognos in 2008 for $5 billion.
different massive technology companies have also recently sought to reinvent themselves through acquisitions. Microsoft this 12 months got open source application platform GitHub for $7.5 billion; chip maker Broadcom Inc agreed to purchase software maker CA Inc for essentially $19 billion; and Adobe Inc agreed to purchase marketing application maker Marketo for $5 billion.
certainly one of IBM's leading opponents, Dell applied sciences Inc, made a large wager on software and cloud computing two years in the past, when it received records storage enterprise EMC for $sixty seven billion. As part of that deal, Dell inherited an 82 percent stake in virtualization utility enterprise VMware Inc.
The deal between IBM and pink Hat is expected to shut in the 2nd half of 2019. IBM mentioned it deliberate to droop its share repurchase program in 2020 and 2021 to assist pay for the deal.
IBM spoke of red Hat would proceed to be led by purple Hat CEO Jim Whitehurst and pink Hat's present management group. It intends to hold pink Hat's headquarters, amenities, manufacturers and practices.
Lazard Ltd offered economic assistance to IBM, alongside Goldman Sachs group Inc and JPMorgan Chase & Co, which also offered financing for the deal. Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal guidance to IBM.
Guggenheim companions LLC and Morgan Stanley had been economic advisers to purple Hat, whereas Skadden, Arps, Slate, Meagher & Flom LLP provided criminal tips to the company on the deal. "figuring out first-hand how critical open, hybrid cloud technologies are to helping agencies free up price, they see the vigour of bringing these two companies collectively, and are honored to suggest IBM and commit financing for this transaction," JPMorgan CEO Jamie Dimon talked about in a statement.
(Reporting with the aid of Liana B. Baker and Greg Roumeliotis in ny; additional reporting by Stephen Nellis in San Francisco and Carl O'Donnell and Jim Finkle in long island; editing with the aid of Rosalba O'Brien and Peter Cooney)
international company Machines (NYSE:IBM) managed to beat estimates on each earnings and earnings for the quarter ending in December, but that wasn’t the massive news from Tuesday nighttime. The massive information is they can ultimately remember what IBM’s company is, and the way it is going to grow. The shares of IBM inventory closed at $122 forward of the outcomes and opened at $133 as investors digested the numbers.
It was web revenue of $4.four billion, or $four.87 per share, on revenue of $21.eight billion, that beat estimates and sent IBM stock flying. buyers grabbed for a dividend of $1.fifty seven per share that nevertheless noticed yields at practically 5%, even after a 7.sixty eight% bounce within the share expense in pre-market buying and selling the previous day.
IBM seems to have settled on a strategy that makes experience. Calling it “hybrid multi-cloud,” it’s built across the thought that massive businesses desire the pliability of using dissimilar cloud platforms, together with building their own for key statistics and functions.
Blogger and tech analyst Kishore Jethanandani writing on FuturistLens sees this as an important opportunity, a market turning out to be at 17% that should still be value $ninety seven billion by 2023.inserting on the pink Hat
purple hats could be associated with the President of the USA at the moment, however IBM’s turnaround began in October with its $34 billion deal for open-source application developer crimson Hat (NYSE:RHT).
The timing wasn’t top of the line, coming at a height in tech valuations, and the deal hasn’t yet closed, but pink Hat has already converted large Blue’s corporate picture. all over the quarter IBM delivered profitable boom in its cloud segment, with areas it dubs “strategic imperatives” now representing half its revenue.
The deal also culminated the transformation of purple Hat below CEO Jim Whitehurst. What had been a issuer of open source Linux software grew to become a pacesetter in corporate cloud functions through the OpenShift container platform, which helps corporations convey their present application into clouds.
IBM and pink Hat have at all times had a close relationship, with big Blue executives keynoting the developer’s annual technology conferences. I had personally been pounding the desk for this deal considering 2012, recommending readers buy pink Hat in can also, dismissing what became then IBM’s strategy in July.Silver Lining in the New IBM’s Cloud
IBM isn't any longer concentrated simplest on its own cloud, however on growing subscription income and cloud-based mostly application features in hybrid cloud, AI, analytics and protection, based on CEO Ginni Rometty.
Containers let companies movement information between clouds from Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT), whereas conserving compatible statistics outlets on their own premises. IBM’s cloud then becomes the glue holding company facts collectively. IBM doesn’t require the dimensions of a cloud czar to do this. Its smaller dimension compared with the cloud titans becomes an skills, besides the fact that children its earnings continues to be twice that of Oracle (NASDAQ:ORCL), with a market cap that’s 50% bigger than IBM’s, and a dividend yield that two-thirds smaller.
The relative strength of Oracle’s stock compared with IBM’s demonstrates to just what extent IBM’s complications were nonetheless fixable. IBM nonetheless has its mainframe monopoly, offering monopoly stage profits, however it has been considered simplest as an salary inventory, the price of the shares down by using one-third over the last 5 years.final analysis on IBM stock
purple Hat has given IBM a course towards ecocnomic growth, and IBM has spent the final quarter developing a collection of items and capabilities it could carry round purple Hat’s hybrid cloud solution.
IBM inventory has long been among the least expensive tech shares out there, but best since it wasn’t becoming. If it may possibly grow, the inventory becomes a real cut price, and the fourth quarter results point out it may indeed develop.
The fourth quarter of 2018 changed IBM stock from a sell to a buy.
Dana Blankenhorn is a economic and expertise journalist. he's the writer of a new secret thriller, The Reluctant Detective Finds Her family, available now at the Amazon Kindle save. Write to him at [email protected] or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in MSFT and AMZN shares.
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For more than a century, IBM (NYSE:IBM) has been a great dividend stock for investors. The company has paid a dividend every year since 1916 and has increased the dividend for a current streak of 18 years in a row. Its 4.7% current dividend yield is tempting in a low-interest rate environment, especially compared to the lower S&P 500 yield of 2.1%.
However, IBM faces several challenges that have made it difficult for the company to grow in recent years. This could put pressure on the company's ability to increase the dividend going forward. Although Microsoft's (NASDAQ:MSFT) yield is lower, the company is growing and has plenty of cash resources to keep increasing its dividend over time.IBM is getting left behind
For several years, IBM has been gradually shifting its revenue from legacy hardware and services to faster-growing areas, such as blockchain, cloud, mobile solutions, and data analytics to position itself for long-term growth. However, as it does so, Big Blue is entering areas where more nimble competitors have already beaten it to the punch and are well entrenched.
This is most notable in IBM's cloud business (about 24% of total revenue), where the company is way behind Amazon.com and Microsoft -- the top two market-share leaders. More and more corporations are moving their entire data systems over to the cloud. Amazon has garnered the top spot in the cloud market with 52% market share, according to research firm Gartner. Microsoft was late to the cloud market but caught up quickly, earning the second spot behind Amazon with 13% market share. Meanwhile, IBM has only managed to capture 2% of the market.
Microsoft's Azure cloud business grew revenue 76% year over year in the third quarter, faster than Amazon Web Services. With every corporate customer Microsoft picks up, that's one less customer for IBM.
IBM is not showing any sign of catching up to its rivals. Amazon and Microsoft are the hares in this race, while IBM is the slow-moving tortoise. That's why IBM went out and spent $34 billion recently to buy Red Hat, to essentially buy its way to the top of the cloud, but some analysts remain skeptical about IBM's strategy.If IBM doesn't grow, dividend increases will get difficult
Big Blue has been trying to improve its growth for many years and hasn't managed to get the needle moving. Over the last 10 years, IBM's revenue and free cash flow -- out of which dividends are paid -- hasn't grown, as you can see in this chart. Also, note how IBM's operating performance is a mirror image of Microsoft's steady growth.
The challenges IBM faces are so severe that one analyst boldly stated that Big Blue's earnings are in an "irreversible structural decline." Many other investors seem to have the same opinion, which is why IBM stock trades at such a low price-to-earnings ratio and offers such a high dividend yield. Analysts expect the company to grow earnings just 0.96% over the next five years.
IBM has managed to grow its dividend payout per share 207% over the last decade, but that's due to an increase in the payout ratio from less than 20% of free cash flow to 44% over the last year. Also, the company artificially boosted its dividend per share by repurchasing shares.
Additionally, IBM has $21.5 billion of net debt on the balance sheet with another $15.8 billion in retirement-related obligations, which could make it difficult for the company to increase the dividend going forward. That level of debt doesn't include the financing required for the $34 billion Red Hat acquisition, which will be financed by a mix of cash and debt.A better dividend stock for the long haul
In stark contrast, Microsoft is soaking in cash, and operating performance has been stellar. At the end of the third quarter, the software giant had $59.7 billion of net cash and generated $32 billion of free cash flow over the last year. Microsoft pays out 40% of free cash flow in dividends.Metric IBM Microsoft Cash $14.5 billion $136 billion Debt $47 billion $76 billion Revenue (TTM) $80 billion $115 billion Net income (TTM) $5.7 billion $19 billion Free cash flow (TTM) $12.7 billion $32 billion Dividend yield 4.7% 1.7% Dividend payout as a percentage of free cash flow 44.2% 40.4% Forward price-to-earnings ratio 8.75 20.93
While IBM's moat appears to be steadily shrinking, Microsoft enjoys a wide moat based on its dominance with its Windows operating system, and the familiarity users have with its Office software. More of Microsoft's revenue is coming from recurring subscription fees, such as Office 365. The software giant has seen steady growth in its flagship Windows and Office products lately.
Analysts expect Microsoft to grow earnings 14% per year over the next five years, which is consistent with the company's recent performance. At that rate of growth, profits and free cash flow would nearly quadruple over the next decade. Microsoft could increase its dividend payout by a proportionate amount.
Take a look at the chart below. Over the last 10 years, Microsoft has increased its dividend at a slightly faster pace than IBM even though Microsoft pays out slightly less of its free cash flow as dividends.
IBM's dividend increases were made by increasing the payout as a percentage of free cash flow, while Microsoft increased its dividend partly through growth in free cash flow, which is ideally what dividend investors want to look for.
Successful dividend growth investing can be very rewarding down the road, as those dividend payments get larger and larger, and it's not difficult to achieve. You stack the odds enormously in your favor by investing in a company that has demonstrated growth in free cash flow and avoid companies that haven't.
Over the long term, investors are better off investing in wide-moat Microsoft, which can consistently grow its revenue and profits to finance higher dividend payments over time. Microsoft offers investors both potential capital appreciation and rising income over time; those are two things that IBM may not be able to generate for shareholders.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool's board of directors. John Ballard owns shares of Amazon. The Motley Fool owns shares of and recommends Amazon. The Motley Fool owns shares of Microsoft. The Motley Fool recommends Gartner. The Motley Fool has a disclosure policy.
Starting in September 2019, Walmart and its Sam's Club division will require their suppliers of fresh, leafy greens to implement real-time, traceability of products back to the farm by participating in the Food Trust Consortium. The Food Trust consortium, run by IBM, is focused on using Blockchain technologies for improved food traceability.
In addition to leafy greens, Walmart plans similar mandates for other fresh fruit and vegetable providers within the next year, according to Frank Yiannas, vice president of food safety at the world's largest retailer. "It's becoming a business requirement, it's a part of their supplier agreements," Yiannas said in an interview. The goal is to speed up response times in case where food-borne illnesses cause recalls.
A critical question is whether the mandate will have legs. Walmart imposed a RFID mandate on their 100 largest suppliers in 2005. I talked to over 50 of those suppliers at that time. The supply chain executives saw the mandate as providing value for Walmart but being counterproductive for them. They believed the initiative provided little value to their supply chains but was certain to increase their costs. Not surprisingly, the RFID mandate failed.
In August, I got details from IBM's Suzanne Livingston, Offering Director, IBM Food Trust and Ramesh Gopinath, VP Blockchain Solutions, about how the Food Trust solution works.
Architecturally, this is a distributed system; in other words, a system that runs on multiple nodes in multiple data centers. The nodes are run by trust anchors - basically, some of the largest companies in this end-to-end supply chain. A Blockchain involves having copies of the transactions being stored across the different database nodes. IBM believes that a few dozen nodes are necessary to establish a trusted chain of data.
GS1 standards are used to make sure all participants are speaking the same language. But in addition to providing the hardware, software and Cloud components, insuring that the data is clean and logical is a big part of what IBM brings to the table. Some players in the food supply chain will provide serialized numbers at the case layer, some at the pallet level, and some only at the lot level. "Not everyone is at the same level of maturity," Mr. Gopinath stated. "There are data gaps."
It is not clear what Walmart is demanding of their suppliers, but in August IBM's view was they just wanted new participants to give a bare minimum of data to get started on a trace. "Then they will work with companies to grow their maturity." It is likely that once companies get started, some participants in the value chain will want additional information. For example, retailers may want to know whether refrigerated products were kept in the proper temperature range and may also want visibility to in transit information. A food manufacturer may want to know how much product has been received at myriad different stores in a retail chain.
IBM is taking an interesting approach to pricing the solution. Companies that want to join the Food Trust, will be able to provide traceability data for free. These companies will need to inform IBM on who they are, the products they want traced, and who they will be interacting with from a one up, one down perspective. That company may need to do some work to understand the GS1 standards, make sure they can provide clean data, and figure out how that data will be sent to the Blockchain.
IBM seeks to monetize their effort by charging to display analytics information, for example statistics on the timeliness and quality of transactions provided to other members of the chain. And IBM will charge a subscription fee to share certificates. For example, a farmer may claim that they offer organic strawberries. An auditing firm verifies this, and IBM charges for uploading the organic certification to the Blockchain.
Will this mandate have legs? If the initial plan is followed, and suppliers' costs for participating are minimal and they are allowed to walk before they run, it will achieve supplier acceptance.
But the question then becomes, how much does it increase Walmart's costs? Once the retailer starts to generate data they will have to see how increased costs surrounding Food Trust are balanced by lower costs in recalls; how much prices for produce will need to increase; whether those price costs can be passed along, and similar cost/benefit trade off questions. In short, the viability of Blockchain for traceability is not assured yet, despite the mandate.
Blockchain for Supply Chain Management will be discussed at ARC's upcoming Driving Digital Transformation forum. The forum takes place February 4th to the 7th in Orlando.
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