IBM stock has surged over the past year and recently surpassed its decade-old all-time high. It makes sense, then, that investors were expecting better results from the tech giant. While IBM's revenue miss was disappointing, the good news for long-term investors is that there's nothing to worry about.

IBM stock is chipping away at its impressive year-to-date return after a Q3 revenue miss, but one analyst isn't worried. Here's why.