I've never been a fan of companies giving guidance, let alone five-year earnings per share targets.
Yet that's been part of the IBM story for at least five years, as the company has dangled a five-year "roadmap" with a $20 operating earnings per share target in front of investors' noses.
As I wrote today on TheStreet.com, it's not that the company can't get there, it's that once it gives a big number years out, it's under pressure to make that number—no matter what.
(Read more: IBM earningsbeat estimates, revenue comes in light)
