Doing research? Sure... Maybe. But it doesn't mean they are going to get anywhere to mass production... What was their last huge innovation? On top of that I won't give that much credit for what they do or say they do. Remember how much they lied about many of their "innovations" like IBM Watson?
Scanning Tunneling Microscope, high-temperature superconductivity - 2 Nobel prize right there.
Then laser eye surgery, magnetic storage, relational databases, UPC barcodes, DES, FFT, RISC, ...
yeah, almost nothing. /s
disclaimer: I work for IBM Research and I love every second of it.