Copyright Inc. Magazine
Year to date, IBM’s stock has risen over 42 percent, shy only of Alphabet’s 50.42 percent. On Thursday, IBM surpassed Nvidia’s 40.06 percent year-to-date increase. IBM’s growth significantly outpaced the remaining top five stocks. Its gain is over twice that of Microsoft’s 17.94 percent, and roughly four times the 10.78 percent increase for Amazon and the 10.42 percent of Tesla shares. Apple and Meta stocks, with 7.73 percent and 5.73 percent gains, respectively, pale in comparison. As reported by the Investor’s Business Daily, IBM stock received an A Accumulation/Distribution Rating and a 1.8 up/down volume ratio. The stock earned a 91 Composite Rating. IBM’s recent advances in the quantum computing space is in part what’s boosting its growth. According to IBM, quantum computing uses quantum mechanics “to solve problems beyond the ability of even the most powerful classical computers.” It’s a technology that all the top tech companies are racing to launch. In August, IBM announced a partnership with tech company Advanced Micro Devices (AMD), wherein both businesses would work together to develop quantum computing capabilities. Then in October, it revealed that it could run a quantum error-correction algorithm using AMD’s standard chips. The discovery means scaling quantum systems will be cheaper and less complex. It also makes IBM’s plan to release a “large-scale, fault-tolerant quantum computer” by 2029 more feasible.
