#3 - IBM (NYSE:IBM)
For much of the decade leading up to 2024, IBM (NYSE: IBM) was an afterthought in the tech space, seemingly lagging behind industry leaders. However, behind the scenes, Big Blue was making significant investments in quantum technology. And the payoff could be now.
The company has developed a series of quantum computing processors. But what has many analysts rethinking their outlook on IBM stock is the company’s new Qiskit software platform, a software development kit (SDK) designed for quantum developers. Qiskit can help streamline workflows and code generation via a cloud-based infrastructure that runs across various devices.
IBM's combination of quantum hardware and software positions the company as an end-to-end quantum solutions provider, which could be a potential competitive advantage. Analysts are starting to understand the company’s quantum narrative and are raising their price targets on IBM stock.
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.
More about International Business Machines- Current Price
- $261.67
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 7 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $231.44 (-11.6% Downside)
