Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, July 23, 2021

Article Excerpt

INTERNATIONAL BUSINESS MACHINES CORP., $141.34, New York symbol IBM, is a buy. IBM is one of the world’s largest computer companies, with operations in over 175 countries. The company recently announced that it would spin off the Managed Infrastructure Services unit of its Global Technology Services division. That legacy business (which will take the name “Kyndryl”) helps corporate and government clients manage their datacentres. The split will let the remaining company focus on its faster-growing cloud computing and analytics software operations. The company hasn’t announced the details, but it expects to complete the spinoff by the end of 2021. Meantime, IBM is using acquisitions to bolster its cloud and AI operations. In the first half of 2021, it spent $2.9 billion on purchases of smaller businesses. As a result of those new businesses, IBM’s revenue in the three months ended June 30, 2021, gained 3.4%, to $18.75 billion from $18.12 billion a year earlier. That beat the consensus forecast of $18.29 billion. On a comparable…