Why IBM Stock Jumped 17% in the First Half of 2021
Shares of tech giant IBM (NYSE: IBM) increased 17% during the first half of 2021, according to data from S&P Global Market Intelligence. After years of market underperformance, the storied company is finally showing signs of life under new CEO Arvind Krishna, who is spearheading dramatic changes to get IBM up to date with the cloud computing era.
On the surface, it may come as a surprise that IBM jumped so much during the first half of the year. After all, revenue was up a meager 1% from the year prior in Q1 2021. Free cash flow was up 12% year over year, but that can be a volatile profit metric when viewed on a quarterly basis.
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Source Fool.com