Why IBM Stock Was Rocking it This Week
This is shaping up to be an eventful week for International Business Machines (NYSE: IBM). The storied tech company was announced as the major focus of a significant federal government initiative to develop quantum computing, and it's pushing forward on several fronts in the field of artificial intelligence (AI)-powered cybersecurity.
Investors cheered these developments by bidding the stock up by nearly 17% week to date as of early afternoon Friday, according to data compiled by S&P Global Market Intelligence.
The more impactful of these two developments was the government program. On Thursday, it was announced that the Department of Commerce (DoC) was granting $2 billion to nine quantum computing companies, including IBM. In fact, IBM is the top recipient of this largesse, as it's receiving $1 billion.
Source Fool.com
International Business Machines Corp Stock
The stock is one of the favorites of our community with 43 Buy predictions and 3 Sell predictions.
With a target price of 270 € there is a slightly positive potential of 13.26% for International Business Machines Corp compared to the current price of 238.4 €.
