International Business Machines Corporation (IBM) Is Doing Well, Says Jim Cramer

We recently published 9 Stocks Jim Cramer Recently Talked About As He Said I’m A Quantum Computing “Believer”. 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 largest and most important technology companies in the world. Its shares have gained 7.7% year-to-date but have lost 16% since late July. The dip in International Business Machines Corporation (NYSE:IBM)’s stock started after its software revenue of $7.39 billion during its latest quarter missed analyst estimates of $7.43 billion. Cramer’s previous comments about International Business Machines Corporation (NYSE:IBM) have remarked that the stock could slowly edge higher over time. This time, he commented on the firm in the context of quantum computing:

“Call me a believer, in quantum. And I think it’s catching up and doing something. Also by the way, IBM and Google are doing well.

“But I’ve got to tell you, quantum, I cannot believe that I’m a believer, but I am a believer.”

Here is what Cramer said about International Business Machines Corporation (NYSE:IBM) after its earnings:

“Most of the news is good this morning, IBM. I still think not as bad, uh, Chipotle we have to talk about.

“People felt the software was slower. I think they’ve got this great mainframe cycle. I don’t think you abandon the stock at all. This is another one, classic overreaction, has a higher P/E multiple than it did.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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