New York-based International Business Machines Corporation (IBM) has been an iconic tech giant for over a century, continually reinventing itself. With a market cap of $157 billion, it primarily earns from software and consulting services. Its offerings span cybersecurity, artificial intelligence (AI), and data analytics, tied together by its hybrid cloud platform with Red Hat. Its consulting arm helps clients modernize and digitally transform, often leveraging IBM products and strategic partnerships. Despite slow growth in its infrastructure segment, many industries still rely on IBM’s mainframe systems, Power servers, and storage products.
Shares of the multinational tech company have outperformed the broader market over the past 52 weeks. IBM has surged by 36% over this time frame, while the broader S&P 500 Index ($SPX) rallied 28.9%. However, in 2024, IBM’s 4.5% gains trail behind SPX's 11.2% gains on a YTD basis.
