IBM is set to leverage its watsonx platform for introducing Generative AI-enabled integrated content in the upcoming Wimbledon tournament to reach a wider audience.
IBM (IBM) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
In the latest trading session, IBM (IBM) closed at $169.32, marking a -0.62% move from the previous day.
As investors triple down on the hottest AI stocks this June, more value-oriented investors should look to some of the neglected cloud companies, many of which have AI upside of their own. Of course, many investors seem to be getting incredibly impatient when it comes to cloud software firms, even as they consistently pull the curtain on new AI features, innovations, functionality, and copilots.
Zacks.com users have recently been watching IBM (IBM) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Computing behemoth IBM IBM has gained close to 4% year-to-date in 2024, underperforming the broader Nasdaq-100 which gained about 14% over the same period. In contrast, IBM's peer Oracle stock has gained 19% year-to-date.
While IBM's recent acquisition of HashiCorp has not been well received by the market, I'm still bullish. IBM's leadership position in implementing open-source AI is key. That will drive the company's growth and maintain its competitive edge. I think this will be as big as linux. I believe IBM's stock is undervalued and has substantial upside potential, especially considering the company's strong forecast for GAAP EPS growth.
Several S&P 500 firms, including IBM, mentioned "AI" at least 50 times in Q1 earnings calls, indicating the growing importance of AI in corporate strategies. Putting money where its mouth is, IBM plans to acquire a company for $6.4 billion to enhance its hybrid cloud and AI capabilities. While EPS growth for IBM is not impressive in the short term, strong earnings trends are possible in out years - investors are paid to wait with a 4% yield.
Dividend stocks never go out of style, even when investors are focused on the next big thing. AT&T stock sports a high dividend yield, and the company could start to boost that dividend faster next year.
IBM (IBM) reported earnings 30 days ago. What's next for the stock?
IBM (IBM) concluded the recent trading session at $170.67, signifying a -1.74% move from its prior day's close.
IBM is focused on enterprise AI with its watsonx AI platform and consulting services. The company announced new partnerships, products, and initiatives at its THINK conference.