Topic: How To Invest

Wall Street Stock Forecaster Hotline Friday, January 22, 2021

Article Excerpt

INTERNATIONAL BUSINESS MACHINES CORP., $118.61, New York symbol IBM, is a still buy for long-term gains. The stock dropped 10% on Friday after the company reported weaker-than-expected revenue growth for the fourth quarter of 2020. IBM is one of the world’s largest computer companies, with operations in over 175 countries. On July 9, 2019, the company completed its acquisition of Red Hat Inc. for $34 billion. Red Hat is a leading developer of software for cloud-based computing systems. (Cloud systems let users access computer programs online and store files on a company’s remote servers.) Its programs use the open-source Linux operating system. That lets Red Hat adapt its software to work on a wide variety of computer-hardware systems. IBM recently announced that it would spin off the Managed Infrastructure Services unit of its Global Technology Services division. That legacy business helps corporate and government clients manage their datacentres. The split will let the remaining company focus on its faster-growing cloud computing and software operations (including…