IBM, a leading computer services company, generates net sales primarily from cognitive solutions and transaction processing software (42.5%), IT services (32.3%), and IT infrastructure sales (23.6%). Geographically, sales are distributed with 40.9% in the United States, 10.3% in the Americas, 29.9% in Europe/Middle East/Africa, and 18.9% in Asia/Pacific. UBS has maintained a Sell rating on the company.