After underperforming the market for most of the past decade, IBM is seeing its strategy of acquiring companies to build a broad, multicloud platform start to pay real dividends.
On March 12, IBM stock hit an all-time-high share price of $197.78, putting an exclamation point on a remarkable turnaround for the company whose shares nosedived to a low of $74 in 2020. In the fourth quarter of last year, IBM revenue grew by 4%, year over year, reaching $17.4 billion. Annual revenue hit $61.8 billion, a 2% increase over 2022.
