IBM shares extend rally into seventh straight session

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โดย Seeking Alpha·Read original
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International Business Machines shares are on track to close higher for a seventh consecutive trading session, rising 3.88% to $311.14 on Tuesday afternoon. The stock has gained 15.97% over the last six sessions, far outpacing the S&P 500's 2.44% advance. The rally was fueled by IBM's unveiling of what it calls the world's first sub-1 nanometer chip technology, featuring a 0.7 nm node that packs nearly 100 billion transistors onto a fingernail-sized chip and offers 70% greater efficiency or 50% higher performance than its 2 nm technology. Additional gains followed news that IBM scientists collaborated with Oak Ridge National Laboratory and the Cleveland Clinic to calculate nine complex molecular configurations of a fusion-energy material using quantum computing, demonstrating the technology's potential in clean energy. IBM also expanded its z17 and LinuxONE 5 portfolio with new rack mount and single-frame configurations for AI and enterprise workloads. Despite the momentum, Seeking Alpha analyst Daniel Jones maintains a Hold rating, citing rich valuation, while the Quant Ratings system also rates IBM a Hold with a score of 3.32 out of 5, though both Seeking Alpha authors and Wall Street analysts maintain Buy ratings.

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