International Business machines (IBM) is a tech company that doesn't trade at the lofty P/Es some of the market leaders enjoy. Granted, this is because IBM's revenues have been steadily falling, but the tech sector continues to be a high-growth space. With the recent change in management, the potential for cloud, and the Red Hat acquisition, we might finally see IBM begin to turn things around.

IBM is one of the oldest software companies out there. The company was a computing pioneer in the '70s but has since fallen way behind the competition. Despite being in a "high" growth sector the company has consistently decreased revenues. The last 10 years have given us a revenue CAGR of -2.4%. On top of that, profitability has also been decreasing with operating income falling from near 20% in 2010 to just over 12% last year.

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