
NYSE:IBM
This summary was created by AI, based on 24 opinions in the last 12 months.
IBM is experiencing a transformation driven by its hybrid cloud and AI initiatives, complemented by a strong consulting business. While the company has demonstrated solid revenue growth, experts indicate that it has reached a point of consolidation, with shares fluctuating around $240 after peaking over $300. Analysts point out the impressive earnings boost from AI and quantum computing efforts, expressing optimism about IBM's future performance despite some concerns about overvaluation at current levels. The consensus shows a mix of bullish sentiments with expectations of further upside potential, although some experts advocate for caution in the light of market competition. Overall, IBM remains a relevant player in the tech space, especially noted for its advancements in quantum computing.
It is starting to perk up a little. The Redhat acquisition is starting to flow through and show some growth. He still does not love IBM. It will fall into the bucket of 'Old Tech'. Continued share purchases will help with EPS, but revenue growth will continue to be difficult. He would look at other names like the FANG stocks. (Analysts’ price target is $148.00)