IBM's announcement is a good message to the marketplace of how a serious, large player like IBM takes encryption. We've been hearing rumblings of other major chip manufacturers doing similar things.

It takes the legality out of the issue for them. I think it's a great move for IBM.

That is the crux of the matter. The government could conceivably ask for individual names of people who searched for a specific term or phrase.

He's a good sport. He's a serious guy, but I don't think he takes himself too seriously.

We still see IBM attractively valued at a 13 percent discount to S&P multiple.

The whole tech sector jumped after the IBM announcement and it may spark a rally tomorrow. But it's one piece of good news. Could the impact be erased by a subsequent piece of bad news between now and tomorrow? Sure.