International Business Machines Corporation (IBM): I "Salute" Its CEO's Wealth Creation Abilities, Says Jim Cramer

We recently published 11 Stocks Jim Cramer Just Discussed As He Shared Why Stocks Are Rising. International Business Machines Corporation (NYSE:IBM) is one of the stocks Jim Cramer recently discussed.

International Business Machines Corporation (NYSE:IBM) is one of the biggest enterprise computing companies in the world. Additionally, and silently, the firm has also placed itself as a potential leader in the nascent and budding quantum computing industry. International Business Machines Corporation (NYSE:IBM)’s shares have gained 31% year-to-date due to quantum and AI computing catalysts. Additionally, it is among the few firms in the world with the technology and expertise to design leading-edge transistors. These transistors, such as the gate-all-around-field-effect-transistor (GAAFET), are key for designs such as Samsung Foundry to overcome the constraints of older transistors, such as FinFET. Cramer was full of praise for International Business Machines Corporation (NYSE:IBM)’s CEO, Arvind Krishna:

“I mentioned that, I wanna salute CEOs who create great wealth. Arvind Krishna has done a remarkable job at IBM. It’s now up to 27 times earnings. And then Ben Reitzes at Melius and comes out and reminds people it can continue. This is the kind of thing that’s quietly happening. That people are making a lot of money in. And you know it doesn’t get mentioned other than the day of earnings. And I think that I salute this man, Arvind Krishna, who took a stock that hadn’t done anything for a very long time and look at that wealth he’s created. And he came in he said he’s gonna embrace the cloud, he did it, he said he’s gonna make some acquisitions that are going to be very good and he has. And congratulations to everybody involved.”

Earlier, the CNBC host attributed International Business Machines Corporation (NYSE:IBM)’s share price gains to quantum computing:

“And IBM does have quantum, and that’s one of the reasons that why IBM is at an all time high!”

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Disclosure: None. This article is originally published at Insider Monkey.