Investors are betting that IBM will continue to improve its profit margins.

But there are some signs the industry isn't turning around fast enough. Analysts point to a lower-than-expected sales forecast from IBM's chief rival, Hewlett-Packard Co., and a 16 percent sales drop in the latest quarter from another competitor, consulting and outsourcing firm Accenture Ltd.

IBM is expected to earn $2.02 per share on $23.59 billion in sales, according to analysts polled by Thomson Reuters.

Last year, profit totaled $1.97 per share on revenue of $26.82 billion.

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