Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, June 30, 2023

Article Excerpt

INTERNATIONAL BUSINESS MACHINES CORP., $133.78, New York symbol IBM, is a buy. The company is one of the world’s largest computer firms, with operations in over 175 countries. In the past few years, IBM has shifted its focus to its more-profitable cloud computing, consulting and mainframe businesses. It now gets over 75% of its revenue from its software and consulting. Under that strategy, the company is now buying Apptio Inc. That privately held firm makes software to help over 1,500 businesses manage their cloud-computing activities and various cloud services. IBM will pay $4.6 billion for Apptio when it completes the sale in the second half of 2023. The company can easily afford this purchase: it held cash and equivalents of $17.39 billion as of March 31, 2023. IBM is a buy. IBM recent coverage: Hotline for April 21, 2023 March 2023 issue GENERAL MILLS INC., $76.69, New York symbol GIS, remains a hold. The company is one of the world’s largest foodmakers. Its top brands include Cheerios (cereal), Pillsbury (baking…