International Business Machines Corporation (NYSE:IBM) is one of the stocks Jim Cramer shared insights on. Cramer discussed how the stock is faring after its last earnings report. He remarked:
“What do we make of the recent rollercoaster action in IBM? Going into the most recent quarter in late July, this stock was up 50% over the past 12 months. Finally, it felt like the legacy tech colossus had gotten a new lease on life thanks to its popular AI-related solutions. But when IBM reported a month and a half ago, even though the headline numbers came in better than expected, Wall Street was concerned by their slowing software growth. Management was adamant that this came from the mainframe side, which should improve later in the cycle, but that wasn’t enough to prevent the stock from plunging 7.6% in a single session. Since then, the stock has struggled to find its footing.”
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International Business Machines Corporation (NYSE:IBM) provides integrated technology and consulting solutions, including hybrid cloud, AI platforms, and infrastructure services.
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Disclosure: None. This article is originally published at Insider Monkey.