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IBM Stock Has Quietly Rallied 40%

TheMotleyFool

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Century-old tech-giant International Business Machines (NYSE: IBM) has been trying and failing to tell a compelling turnaround story for years. The stock has been trending lower since 2013 despite significant progress shifting the business to high-growth areas like cloud computing and artificial intelligence.

IBM made a big move in 2019 with the $34 billion acquisition of software company Red Hat. The acquisition strengthened IBM's hybrid cloud-computing business, which is the foundation of the company's growth strategy. IBM views hybrid cloud as a $1 trillion opportunity, and Red Hat's OpenShift hybrid cloud platform is a market leader.

Image source: Getty Images.

Source Fool.com

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