Consider IBM On The Cloud Computing Initiative? (IBM)

Is it time to consider International Business Machines Corp.

, as the company moves more into cloud computing? According to this article from

the company is trying to generate as much as 5% of its revenue from cloud computing by 2015, and hopes to do so by making it easier for its customers to run their own software. IBM will start selling "SmartCloud," which allows its corporate customers to store data on IBM's servers and access it over the Internet. This in turns saves the customers money, by having IBM store the data. It will allow the customers to look at data, and generate as much revenue as possible. “It's a gargantuan number,” Brian Marshall, an analyst at Gleacher & Co. said to Bloomberg. “It will give them a double dip.” IBM

earlier this year at its analyst day in March. "IBM's decision to invest in Singapore for the Asia Pacific Cloud Computing Data Centre is aligned to the country's iN2015 Masterplan, answering the call from the government to entrench our nation's position as a Global-Asia Hub for the delivery of cloud computing services in the region and beyond," said Teresa Lim, Managing Director, IBM Singapore. "The Centre will help to establish a vibrant cloud computing ecosystem here as well as contribute to attracting high-value economic clusters in Singapore, as called out in Budget 2011." IBM is really pushing into cloud computing, and if investors believe that IBM can drive the amount of revenue it thinks it can by 2015, then shares look awfully cheap at these levels.