IBM Misses Quarterly Revenue Estimates

The video discusses IBM's financial challenges, highlighting negative revenue trends and the company's strategic shift towards emerging technologies like cloud, AI, and analytics. Despite growth in these areas, legacy products continue to drag down overall sales. The video also examines the competitive landscape, with major players like Amazon, Microsoft, and Google posing challenges to IBM's market position.

What trends were observed in the cloud business according to the text?

Discuss the competition faced by the company in the current market.