Jim Cramer Says "People Misinterpreted" International Business Machines' Quarter

International Business Machines Corporation (NYSE:IBM) is one of the stocks on Jim Cramer’s radar recently. Starting the round of “Am I diversified?”, a caller noted that their top five holdings are Apple, IBM, Chevron, Eli Lilly, and Verizon, and asked if their portfolio is diversified enough. Cramer replied:

“You can tell Leslie’s watched a lot because this is the kind of thing I’m looking for. We got a drug company, we’ve got a high-yielding telco, we’ve got a high-yielding oil company. We have IBM, which I think had a good quarter. People misinterpreted it. The stock was down. I told them to buy. The quantum came up and boom. And then, I’m going to say, I know people say, well, listen, Jim, you can’t have Apple and IBM, but Apple is own, don’t trade. I have to make this exception because I’m doing it myself for the trust. I am blessing what Leslie’s given us.”

International Business Machines Corporation (NYSE:IBM) provides software, consulting, infrastructure, and financing solutions to help clients with digital and AI transformations.

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