IBM Shares Hit Record as Investors Look for Stable Tech Winners
- Shares are up 28% this year, reaching first record since 2013
- Investors like IBM’s defensive traits and cloud business
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One of history’s original big tech firms has been having a quiet renaissance that’s pushed its shares to their first record in more than a decade.
International Business Machines Corp. is up 28% this year, beating tech giants like Apple Inc., Microsoft Corp., Amazon.com Inc. and Alphabet Inc. The outperformance — after years as one of the more unloved tech names — has come as IBM shifted its focus to software, and with the company poised to benefit from artificial intelligence.