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International Business Machines Corporation (NYSE:IBM) is included among the 15 Best DRIP Stocks to Own Right Now.
After spending a day at IBM’s (IBM) quantum laboratory and holding discussions with Jay Gambetta, Director of IBM Research, Melius Research reaffirmed its Buy rating on the stock on November 6, as reported by The Fly. The firm noted that International Business Machines Corporation (NYSE:IBM) currently operates the largest number of quantum computers “by far,” and suggested that the company’s potential in quantum computing “looks like it could amount to billions of high-margin annualized revenue” beginning in 2029.
The report highlighted that IBM’s “Starling” series of quantum computers could introduce groundbreaking applications powered by a 200-qubit platform, supported by an error correction rate that “finally allows this technology cross the chasm.” The analyst further remarked that IBM appears to possess “the ingredients to win in Quantum since it arguably has the best hardware roadmap and the mindshare of developers with its Qiskit platform.”
In other news, International Business Machines Corporation (NYSE:IBM) announced plans to reduce its workforce this quarter, a move that could affect thousands of employees as the company intensifies its focus on its high-margin software business. The decision comes amid increased attention from Wall Street on IBM’s efforts to capitalize on AI-driven cloud opportunities.
Recently, the company reported a deceleration in growth within its key cloud software division, sparking concerns among investors who have been counting on the company to capture a greater share of the expanding cloud services market.
International Business Machines Corporation (NYSE:IBM) is a global technology leader providing software, consulting, and infrastructure solutions, with a strategic emphasis on hybrid cloud and artificial intelligence (AI).
While we acknowledge the potential of IBM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 13 Best Consistent Dividend Stocks to Buy Now and 15 Dividend Growth Stocks with the Highest Growth Rates.
Disclosure: None.
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