IBM's stock has been on a 10-day winning streak, driven by strong earnings and product roadmap

From Nasdaq: 2025-06-13 13:09:00

Market rally led by tech giants like IBM, with a 10-day winning streak. Shares have doubled since 2024, up 28% YTD. IBM’s product roadmap includes plans for a large-scale quantum supercomputer by 2029, enhancing various sectors. AI segment driving profits, with software sales hitting over $6.3 billion in Q1 2025.

Earnings beat expectations, with EPS at $1.60 and revenue at $14.54 billion. Free cash flow at record $2 billion. Margin improvements seen through AI workflow automation. CEO reaffirms full-year guidance of 5% revenue growth. Prominent analyst upgrades post Q1 earnings, with new targets averaging $291.67.

Technical signals point to IBM’s rally being overextended in the short term. RSI in Overbought territory at 74, indicating a possible short pullback. Previous Overbought signals led to short-term tops. Investors advised to watch for a potential entry point. MarketBeat tracks top analysts’ recommendations for potential trade insights. 1. The US economy added 943,000 jobs in July, exceeding expectations. Unemployment dropped to 5.4%, the lowest since the start of the pandemic. The leisure and hospitality sector saw the most growth, with 380,000 new jobs as businesses reopen.

2. The Delta variant continues to spread rapidly in the US, accounting for over 90% of new COVID-19 cases. Hospitalizations and deaths are on the rise, particularly in states with low vaccination rates. Health officials urge Americans to get vaccinated to protect themselves and others.

3. The Tokyo Olympics come to a close with the US finishing at the top of the medal table. Team USA won a total of 113 medals, including 39 golds. Highlights include Simone Biles’ return to competition and Caeleb Dressel’s dominant performances in the pool.

4. Wildfires continue to ravage parts of California, Oregon, and Montana, fueled by dry conditions and extreme heat. The Dixie Fire in California has become the second-largest wildfire in state history, burning over 463,000 acres. Thousands of residents have been forced to evacuate their homes.



Read more at Nasdaq:: IBM Up 10 Days in a Row: What’s Driving the Winning Streak?