International Business Machines Corporation (NYSE:IBM) is one of the stocks on Jim Cramer’s radar. A caller, who holds shares of IBM, expressed confusion about why the stock has been declining despite strong earnings and generally positive commentary, especially after nearing $300 in early July. In response, Cramer said:
“To be fair… That was not, they did not have a perfect quarter, but you know what? I thought that was the opportunity we had been waiting to [buy, buy, buy] and that’s exactly what you should do. I think you should actually buy more. That’s how good I feel Arvind Krishna is doing. This is the quarter, I’ve been telling Jeff Marks that at 22 times earnings, he’s my partner, obviously, with my Charitable Trust, 22 times earnings, this one works.”
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International Business Machines Corporation (NYSE:IBM) offers a range of integrated services and solutions. including hybrid cloud and AI platforms, in addition to server and storage solutions designed for hybrid cloud environments.
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Disclosure: None. This article is originally published at Insider Monkey.