Cloud Stocks: IBM’s Transition To A Hybrid Cloud And AI Company

The transition has been a slow process. This was the first time in the last four quarters that IBM actually reported revenue growth. IBM’s Cloud revenues for the quarter were also impressive. Revenues from its Cloud and Cognitive Software division, which includes Red Hat and Watson, not only grew 4% over the year to $5.4 billion but were also above the market’s estimated $5.30 billion. Red Hat’s revenues grew 17%. IBM has about 3,000 hybrid cloud platform clients now and has tripled the revenue base of OpenShift since it acquired Red Hat.

Its stock is currently trading at $138.16 with a market capitalization of $123.46 billion. It touched a 52-week high of $137.07 in March this year and a 52-week low of $105.92 in October.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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