Circa 2009 was the start of the greatest bull market in history, and it was led by technology stocks. Yet our previous CEO found a way to swim against this mighty current and quarter by quarter, year after year, revenues fell, RAs were executed, and the stock price sank. The current price is similar to price when previous CEO finally announced retirement and shareholders received a temporary new CEO bump.
Cherry picking a time frame when a companies' stock performed well is for amateurs. Run a stock price chart of last 10 years comparing IBM with your favorite tech stocks - ACN, MSFT, NVDA, AMD, AAPL, GOOGL, AMZN, ORCL, whatever. Not pretty. Now MSFT's Satya Nadella made historic turn around after replacing the Bumbling Ballmer, so it can be done, but seems like a tougher climb for IBM.