IBM has a future, although it no longer has anything to do with the company I worked for.
But, it is doing n this area what Apple is doing successfully: it designs the chips, and has others make them. Just like an architect designs a house and your favorite Mexicans build it. The juice is in the design, but everyone's happy in the end. Especially you, if you weren't so confused.
As for IBM, the execution of this is what matters now.