Home
News
- 1 With little price drop in Monday’s trading session, IBM stock price showed a bullish outlook in its most recent weekly analysis.
- 2 As of mid of this month, IBM will release its Q2 2023 results, thus, massive price fluctuations can be expected.
International Business Machines Corporation (NYSE: IBM) is a technology company, having a market cap of nearly $121.37 Billion. The net income of IBM in Q1 2023 was nearly $927.00 Million. The company reported its EPS in Q1 2023 is $1.36, meanwhile the estimation was $1.26. Moreover, for the upcoming quarter, the estimated EPS is $2.00.
Its revenue amounted to $60.53 Billion last year, most of around $25.04 Billion came from its highest performing source at the moment, Software. It must be noted the greatest contribution to the revenue figure was made by the U.S.
IBM Stock Price Analysis
IBM stock closed at $133.67 with 0.10% decline on July 3, 2023, Monday. The beginning of the stock price this week was a little disappointing, but as the price drop was not massive; thus, better performance can be expected in its upcoming trading session.
As shown in the above trading chart, IBM stock price is nearing its 20-day moving average, once again trying to follow an upside ride. Meanwhile, the trading volume in the stock is not showing massive strength. International Business Machines Corp. will release its Q2 2023 reports on July 19, 2023, so more price volatility can be seen in the upcoming trading session.
Compared to its performance last week, IBM stock price showed upside movement. The stock first surpassed its 200-day moving average, and then with continuous bullish outlook holding bullish sentiments. The RSI on the other hand, tried to follow the bullish trend but with the most recent bearish trend, it started to slide down.
Moreover, in the recent 1-month, IBM stock showed nearly 2% growth, opposing its year-to-date (YTD) performance, which shows an over 5% drop.
The price target analysts have set is at $140.22, which is over 4% up from the recent closing price of the IBM stock. Additionally, the maximum estimate set by them is at $162.00, while the minimum estimate is resting at $110.00.
As IBM continuously showcases its technology interest, in the upcoming time more tech-lovers may take interest, while wanting IBM stock to be added to their investment stock list.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
