Hello Marty. Maybe not your kind of stock but what do you think about IBM? Thank you.
Thank you for your question!🙏
I like any stock that wants to trade higher😂
This stock is near and dear to my heart as it was a stock my father bought for me when I was a youth. Currently, this stock (Big Blue) is trading at two times sales which is not expensive in comparison to its peer group. It has a multiple of 16 which is slightly below the S%P 500 average. They have delivered single digit earnings and sales growth, at best, over the past few quarters. Their conversion from a hardware company to a software firm has been painfully slow and full of obstacles. The competition in this space is brutal. Their purchase of Red Hat has helped them in the transition. But, they may need more help?
Technically, the stock has formed a cup with handle pattern and trades near a standard buy point of $146.50 which is the high in the handle. If the market cooperate then I can see this stock appreciating in the near future. I like at at $147.18 and like it even more above $153.21. I would take a swing at this stock if it can prove itself above the $146.50 level. It closed a tick above that level today, and perhaps it is a good time to take. a swing at IBM.
Growing up this stock was what Apple Inc. is for the markets today. When IBM reported earnings they moved the markets, and now nobody cares. It just goes to show that business and life is forever changing.
I hope this answers your question!