Earlier this year, IBM (NYSE: IBM) claimed to have developed the world's first 2nm chip technology. That sounded like a remarkable achievement, since Taiwan Semiconductor Manufacturing (NYSE: TSM) -- the world's most advanced chipmaker -- only started mass producing 5nm chips last year.
But investors shrugged and the news was quickly forgotten, just like IBM's introduction of the world's "first" 7nm chip in 2015 and 5nm chip in 2017. Meanwhile, IBM's stock declined more than 10% over the past five years as it struggled to expand its higher-growth cloud businesses rapidly enough to offset the sluggish growth of its legacy software, hardware, and IT services divisions.
Image source: IBM.
For further details see:
Why Don't Investors Care About IBM's Chipmaking Breakthroughs?