Ever since Apple introduced the first commercially successful microcomputer in 1976, TIME has been faithfully chronicling the fortunes of the many small electronics companies that all seem to have been conceived in garages and nutured around Boston or in California's Silicon Valley. This week's cover story, however, looks in another direction. It treats a very large, relatively old, traditional high-tech company, headquartered in New York's Hudson Valley, that has staged a spectacularly successful invasion of the personal-computer market: IBM, the once and future colossus. Says Business Editor George M. Taber, who supervised the story: "After telling the troubles of corporate...
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