International Business Machines Corp is targeting $40 billion in annual revenue from the cloud, big data, security and other growth areas by 2018.
The aggressive target, set by IBM executives at the company’s annual investor meeting in New York on Thursday, is the latest step for the technology giant towards emerging, high-margin businesses, and away from its previous strongholds in hardware and servers.
The $40 billion will come from areas which IBM calls its “strategic imperatives,” namely cloud, analytics, mobile, social and security software.
