It doesn't matter how much money they make, it's their potential for making more money in the future. It's not about their current business or where they are sliding.

The market hasn't seen that potential in Microsoft in 10 years, pretty much corresponding with when Ballmer took control.

MSFT: http://www.google.com//finance?chdnp=1&chdd=1&chds=1...

IBM: http://www.google.com//finance?chdnp=1&chdd=1&chds=1...