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|19th January 2018, 18:12||#1|
Join Date: May 2010
IBM shares rise as suits make a return
Making a recovery
For those who had written off Big Blue as an outfit which could no longer be as successful as it was in its pre-millennial days, it seems that the suits are making a comeback – thanks to the cloud and Intel's security stuff ups.
Shares in IBM rose nearly two percent on Wednesday, helped by a double-notch upgrade for the company from Barclays ahead of fourth-quarter results on Thursday. Up to Tuesday’s close, they have gained nearly 12 percent since its last quarterly results on October 17.
Barclays cited a handful of reasons for moving the stock to “overweight” from “underweight”, saying the company could emerge as the next important cloud vendor after Amazon and Microsoft.
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