International Business Machines

IBM delivered a strong result for the last quarter and managed an all-around beat as a result of excellent execution with respect to its AI and hybrid cloud strategy. It delivered decent revenue growth in its business across geographies, infrastructure segments, consulting, and software. Also, it produced new innovations in infrastructure with its Power and z16 platforms. The company added a series of innovative IBM software offerings in the AWS marketplace available as-a-Service. also, Red Hat continued the expansion of its offerings in the hyperscale marketplaces. It recently launched a new simplified program, Partner Plus, which increases the company’s scale and reach through existing and new IBM partners. A collaboration has also been formed by a Japanese consortium, Rapidus, for leveraging the depth of the company’s intellectual property on the advanced semiconductors. IBM launched Osprey, the 433-qubit quantum processor. In the quarter, it acquired Octo, which improves the footprint of the company in the federal market of the U.S. We provide the stock of IBM with a ‘Hold’ rating with a revision in the target price.