From Nasdaq: 2024-07-10 00:00:31

IBM is set to report its Q2 2024 results with an expected revenue of $14.6 billion, a 6.6% decline from last year. Software sales are a key driver, led by Red Hat and AI solutions for enterprises. The stock has gained 40% due to the rise in generative AI interest compared to the S&P 500.

Arista Networks, another generative AI beneficiary, saw a stock surge of over 300% in the same period. The Trefis High Quality Portfolio, including Arista, has outperformed the S&P 500 consistently. IBM’s stock valuation at $176 per share is fair, reflecting growth prospects in cloud computing and AI.

In July 2024, IBM’s returns are at 2% MTD and 7% YTD. The Trefis Reinforced Value Portfolio shows cumulative returns since 2016. For more insights on IBM’s performance and valuation, invest with Trefis and check market-beating portfolios for better investment strategies.



Read more at Nasdaq: Up 30% In Last Twelve Months, Will AI And Red Hat Power IBM’s Stock Higher Post Q2 Results?