IBM's AI Bookings To Drive Share Gains, Though 'Revenue Contribution Of AI Is Currently Small'
Portfolio Pulse from Priya Nigam
IBM shares rose after reporting better-than-expected Q2 results, driven by strong AI bookings and solid performance in software and infrastructure. Analysts from Goldman Sachs, RBC Capital Markets, Stifel, and BofA Securities raised their price targets, citing positive medium-term growth prospects despite current small revenue contributions from AI.
July 25, 2024 | 4:19 pm
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IBM reported better-than-expected Q2 results with strong AI bookings and solid performance in software and infrastructure. Analysts raised their price targets, citing positive medium-term growth prospects despite current small revenue contributions from AI.
IBM's Q2 results exceeded expectations, driven by strong AI bookings and solid performance in software and infrastructure. Analysts from multiple firms raised their price targets, indicating confidence in IBM's medium-term growth prospects. Despite the current small revenue contribution from AI, the positive sentiment and raised guidance are likely to drive short-term share gains.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100