Can IBM Stock Move Higher?
With shares of International Business Machines (NYSE:IBM) trading around $177, is IBM an OUTPERFORM, WAIT AND SEE, or STAY AWAY? Let’s analyze the stock with the relevant sections of our CHEAT SHEET investing framework:
T = Trends for a Stock’s Movement
IBM is an information technology company. The company operates in five segments: Global Technology Services, Global Business Services, Software, Systems and Technology, and Global Financing. Technology products and services are in high demand worldwide, as consumers want to be up to speed and companies always need the latest and greatest to stay ahead of the competition. Cloud computing has been hot in recent times, which has not been good news for IBM. Should the company want to hold on to its market share, it needs to make moves quickly and provide the technology products and services that worldwide consumers and companies demand.
IBM today announced it is further expanding its operations across Africa with the opening of two new IBM Innovation Centers in Lagos, Nigeria, and Casablanca, Morocco. These new centers aim to spur local growth and fuel an ecosystem of development and entrepreneurship around Big Data and Analytics and cloud computing in the region.