#4 - International Business Machines (NYSE:IBM)
Looking at the tech sector, investors can consider, International Business Machines (NYSE:IBM). IBM posted 11% growth in the last 12 months and has largely recovered from the sharp sell-off it suffered in mid-October. The reason for the sell-off was a decline in revenue after the company completed its sell-off of Kyndryl.
The revival in IBM has been largely due to its pivot towards the cloud and artificial intelligence (AI). However, the company is launching some new hardware solutions that are expected to drive revenue growth in the first half of 2022. This doesn’t mean that IBM is abandoning its shift to become less reliant on these low margin businesses. But it does mean that, at least for this year, IBM may be able to capitalize on the reopening trade.
Analysts suggest that IBM stock has a nearly 10% upside from its current level. And IBM is a Dividend Aristocrat having increased its dividend in each of the last 27 years.
About International Business Machines
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.
Read More - Current Price
- $222.97
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 8 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $208.12 (6.7% Downside)
