Comment by flomo

Yeah, a huge chunk of IBM's service revenue has always been effectively mainframe services, with wall street accounting spin.

I suspect that almost zero companies adopted mainframes after 1980 or so, so it's ALL legacy market. However, IBM always invests a lot of money in hardware to keep the mainframe perceptually leading edge and "sexy", so they can hold-on to those customers. So you gotta give them credit for that.

(IBM and Microsoft were always 'in the same breath' for years, Microsoft totally out-smarted them, and IBM gave up on that.)