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Facebook (FB), whose stock climbed 4.57% today, may still not have recouped all its October losses, but it has managed to surpass IBM ($179.41B) in market cap with $188.84B, to claim the 5th spot on the Tech market-capitalization list (behind AAPL, $576.39B; GOOG/GOOGL, $358.97B; MSFT, $352.17B; and BABA, $223.28B) .

Quartz (qz.com) has this great graphic showing FB's climb since 2013, and which big names it's overcome on its way.

Facebook is due to report earnings on October 28; you can see Nasdaq's summary of 15 analyst forecasts here.

To give equal time to IBM, it's been following pretty much the same market trajectory  as Facebook this month and was up 1.24% today. IBM is due to report earnings on Monday (October 20) after the close. No big beat is expected that would give IBM an extra push past Facebook.

• Zacks says that its model "does not conclusively show that IBM is likely to beat earnings this quarter".
• Earlier this week, our Matt Schilling explained why he thinks it's a good time to buy IBM.

The most recent analyst note came today from Wells Fargo analyst Maynard Um. According to Benzinga,

Looking to revenue, Um believes there is slight downside to the consensus of $23.4 billion and is predicting $23.2 billion. However, he sees the company's EPS coming in inline with the consensus of $4.33.

In a glance ahead, Um says a potential server divestiture gain should allow IBM to beat its fiscal 2014 EPS guidance of at least $18. Additionally, he expects the company to reaffirm its fiscal 2015 EPS guidance of at least $20.

As for what Um is looking for in terms of IBM's business, he commented, "We will be looking for evidence in a bottoming of the company's legacy businesses (amidst the backdrop of what appears to be an increasingly tougher macro backdrop) and growth/traction of its new businesses."