IBM has been crushing the stock market in 2024. Is it too late to jump aboard this Big Blue bandwagon?
Riding on a robust earnings surprise history, positive estimate revisions and favorable Zacks Rank, IBM appears primed for further stock price appreciation.
Does IBM (IBM) have what it takes to be a top stock pick for momentum investors? Let's find out.
IBM's shares have surged 35.03% YTD, driven by a strategic pivot to hybrid cloud and AI, shedding its legacy businesses. Recent Fed rate cuts are bullish for IBM, potentially reducing its $57.76 billion debt servicing costs, boosting profitability. IBM's Q2 results beat expectations with $1.99 EPS and $15.8 billion revenue, showcasing strong growth in software and consulting.
In the latest trading session, IBM (IBM) closed at $221.08, marking a +0.11% move from the previous day.
IBM's business model focuses on Software, Consulting, and Infrastructure, with primary customers being other businesses. The company enjoys a role to play in the industry of generative AI on many fronts, as well as the sleeping potential of quantum computing. The current price therefore only needs modest growth to be a fair one, leaving room for upside.
Recently, Zacks.com users have been paying close attention to IBM (IBM). This makes it worthwhile to examine what the stock has in store.
An allegedly IBM Corporation (NYSE: IBM) employee went to Reddit on September 27 for a long rant against the company. In the original post, the user u/ReindeerLess4421 questions, “Why are any of us still here,” warning that “IBM is dying and we know it.
IBM announces successful expansion of its quantum data center in Poughkeepsie, marking a significant milestone in the realm of quantum computing.
It's not just the S&P 500 itself hitting an all-time high. A surprising group of big stocks are doing the same.
IBM (IBM) and NASA are partnering to develop an open-source AI model for weather and climate analysis. The foundational model trained on NASA's data is now available on Hugging Face, the AI startup platform.
If IBM is ready to slow down after a strong run, how can you profit? Enter the bear call strategy.