What's the Better Passive Income Tech Stock: IBM or Verizon?
Investors tend to ignore tech stocks when looking for passive income. Many growth tech stocks tend to reinvest in themselves and thus attract investors who hope to benefit from outsized returns.
However, many tech companies have existed for decades, adopting dividend policies as they mature. Two of these companies, International Business Machines (NYSE: IBM) and Verizon (NYSE: VZ), pay dividends well above the S&P 500 average of 1.7%, though well below the current 9% inflation rate. With these challenges, the question for investors is which passive income tech stock will likely serve them better?
After years of sluggish growth, IBM reinvented itself again when it bought Red Hat for $34 billion. With this move, IBM has transformed itself into a cloud stock.
Source Fool.com
