Where does IBM fit in the cloud market?

Recently released reports from two investment research firms call into question just exactly where IBM fits in the cloud computing market.
Deutsche Bank’s Markets Research team issued a note titled “Why IBM Won’t Catch AWS,” which argues that IBM’s focus on hybrid cloud computing puts the company in a different, and smaller, market than Amazon Web Services.
Another report from UBS Global Research focused more broadly on the cloud computing market and said IBM shoul