Many tech stocks suffered price drops in 2022, such as Google's parent Alphabet, which hit a 52-week low on Oct. 26. Yet IBM (NYSE: IBM) weathered the storm well. Big Blue's share price has not reached a new 52-week low since last November when the company spun off its managed IT services division into Kyndryl.

IBM stock's resilience is thanks to the company's excellent performance this year, made more impressive by its ability to overcome substantial macroeconomic factors affecting it and other global tech companies, such as a strong U.S. dollar.

Big Blue set investors' expectations for success last year when it outlined goals of mid-single-digit revenue growth per year from 2022 through 2024 and cumulative free cash flow of $35 billion in that time period. So far this year, the company is meeting these goals.

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Source Fool.com