IBM's stock was absolutely pummeled on Tuesday, with the stock plunging 5 percent after the company reported yet another disappointing quarter of shrinking revenue growth and a brutal cut to its full-year earnings forecast. Jim Cramer knows the company is trying to turn itself around, but is that even possible with such negative sentiment on Wall Street?
"It looks like Big Blue has got the blues. From what I can see, IBM's new, faster-growing businesses, like the cloud, big data and cognitive analytics, just cannot offset the hideous declines in their older legacy divisions," the "Mad Money" host said.
After this quarter, it was pretty clear to Cramer that IBM deserves to go lower. Even the company's 3.6 percent yield can't protect a shareholder when the stock gets obliterated every time earnings season rolls around.
So, now the question is, how low can IBM go before it finds a bottom?
To find out Cramer spoke with Bruce Kamich, a chartered market technician, professor at Baruch College and colleague of Cramer's at RealMoney.com.