ETFs in Focus as IBM Reports Mixed Q3 Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 24 2024
0mins
Should l Buy IBM?
Source: NASDAQ.COM
IBM's Q3 2024 Results: IBM reported mixed results for the third quarter of 2024, beating earnings estimates with $2.30 per share but falling short on revenue at $14.97 billion, leading to a decline in its stock price by over 8% in after-hours trading.
Focus on AI and ETFs: The company is expanding its artificial intelligence capabilities, with generative AI bookings reaching $3 billion. Several ETFs heavily invested in IBM, such as First Trust NASDAQ Technology Dividend Index Fund and FT Vest Technology Dividend Target Income ETF, are highlighted due to their significant allocations to the tech giant.
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Analyst Views on IBM
Wall Street analysts forecast IBM stock price to rise
16 Analyst Rating
11 Buy
4 Hold
1 Sell
Moderate Buy
Current: 242.390
Low
210.00
Averages
315.80
High
375.00
Current: 242.390
Low
210.00
Averages
315.80
High
375.00
About IBM
International Business Machines Corporation is a provider of global hybrid cloud and artificial intelligence (AI) and consulting expertise. The Company’s segments include Software, Consulting, Infrastructure and Financing. The Software segment includes hybrid cloud and AI platforms, which allow clients to realize their digital and AI transformations across the applications, data, and environments in which they operate. The Consulting segment focuses on integrating skills on strategy, experience, technology and operations by domain and industry. The Infrastructure segment is focused on the hybrid cloud infrastructure market, providing on-premises and cloud-based server and storage solutions. In addition, it offers a portfolio of life-cycle services for hybrid cloud infrastructure deployment. The Financing segment provides client and commercial financing, facilitating its clients’ acquisition of hardware, software and services. It helps clients in more than 175 countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Corporate Response Strategies: Companies like Intel have stated that employee safety is their top priority and are implementing measures to protect their facilities in the Middle East, reflecting their adaptability to geopolitical risks and commitment to employee welfare.
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