Fortune 500 Rank: No. 20
Revenue: $104.5 billion
Top Executive: President and CEO Virginia Rometty
Armonk, N.Y.-based IBM slipped one spot from last year's No. 19, and there's a growing sense that the company's momentum may have stalled. While it's still an innovator -- who else could have developed the Watson supercomputer that competed on Jeopardy? -- it's had little or no revenue growth in recent quarters and its server and storage hardware sales have been declining.
Even before hitting its recent rough patch IBM appeared to be moving toward becoming more of a software and services company. It has promised to make changes to its struggling Power Systems, System x and storage product operations, and, as CRN has reported, talks are ongoing to sell the System x business to Lenovo.