Has IBM Stock Become a Buy?
International Business Machines (NYSE: IBM) stock surged 14% higher following its fourth-quarter and 2024 earnings report. Under CEO Arvind Krishna, the company has redefined itself as primarily a hybrid cloud and artificial intelligence (AI) company, and his leadership reversed what had been a long-term decline in the stock.
Consequently, the stock price has risen by around 35% over the last year. Now, investors must assess whether the stock remains a buy with a higher earnings multiple and lower dividend yield.
Krishna's turnaround at IBM began before he became CEO. As a division head, he spearheaded the purchase of Red Hat in 2019. This move made IBM a meaningful player in the hybrid cloud, and after taking the CEO job in April 2020, Krishna acquired more cloud companies.
Source Fool.com
International Business Machines Corp Stock
With 27 Buy predictions and 4 Sell predictions International Business Machines Corp is one of the favorites of our community.
However, we have a potential of -0.53% for International Business Machines Corp as the target price of 263 € is below the current price of 264.4 €.
