IBM Stock Could Take Off in 2024. Here Are 3 Reasons Why.
Investors who wrote off International Business Machines (NYSE: IBM) after years of decline and stagnation may need to take another look. The 112-year-old company has worked to return itself to the cutting edge of today's technology industry.
It accomplished this with the purchase of Red Hat and by spinning off a stagnant managed infrastructure business into Kyndryl. Moreover, it accomplished this without alienating a longtime constituency of shareholders. Returning to the cutting edge could also make it a tech stock worth owning. Here are three key reasons why.
The aforementioned purchase of Red Hat in 2019 amounted to an "all-in" bet on the cloud, costing it $34 billion and dramatically increasing its long-term debt.
Source Fool.com
International Business Machines Corp Stock
€176.84
0.080%
We see a rather positive sentiment for International Business Machines Corp with 16 Buy predictions and 1 Sell predictions.
With a target price of 183 € there is a slightly positive potential of 3.48% for International Business Machines Corp compared to the current price of 176.84 €.
