Jerome Dodson Comments on International Business Machines

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Jan 25, 2017
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International Business Machines (NYSE:IBM), one of the world’s largest providers of information technology solutions and services, rose 20.6%, from $137.62 to $165.99, contributing 119 basis points to the Fund’s return. The stock moved higher as investors became more optimistic about the company’s transformation from a stodgy old provider of mainframes to an exciting trendsetter in data analytics, cloud software and cognitive solutions.

From the Parnassus Fund fourth quarter 2016 commentary.

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