IBM Corp (NYSE:IBM) provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, supply chain, and asset management, weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries. It also offers middleware and data platform software, including Red Hat that enables the operation of clients’ hybrid multi-cloud environments; and Cloud Paks, WebSphere distributed, and analytics platform software, such as DB2 distributed, information integration, and enterprise content management, as well as IoT, Blockchain and AI/Watson platforms. The company’s Global Business Services segment offers business consulting services; system integration, application management, maintenance, and support services for packaged software; and finance, procurement, talent and engagement, and industry-specific business process outsourcing services. Its Global Technology Services segment provides IT infrastructure and platform services; and project, managed, outsourcing, and cloud-delivered services for enterprise IT infrastructure environments; and IT infrastructure support services. The company’s Systems segment offers servers for businesses, cloud service providers, and scientific computing organizations; data storage products and solutions; and z/OS, an enterprise operating system, as well as Linux. Its Global Financing segment provides lease, installment payment, loan financing, short-term working capital financing, and remanufacturing and remarketing services. The company was formerly known as Computing-Tabulating-Recording Co. The company was incorporated in 1911 and is headquartered in Armonk, New York.
IBM spends $120 billion to begin a multiyear restructuring that accelerated on Oct. 10, 2020. IBM announced plans to spin off a $19 billion technology consulting business on that day. This business unit, called Managed Infrastructure Services, will be spun off into a new public company. It helps companies manage their technology infrastructure. It will focus on cloud computing and artificial intelligence.
In the past 8 years, IBM has invested more than $120 billion in remaking the company. This includes $29 billion in capital expenditures, for things like scaling its cloud operations and artificial intelligence offerings and bolstering security and services capabilities.
IBM’s Cloud and Cognitive Software business unit provides a variety of cloud computing services, data and transaction processing platforms. Also, this unit includes IBM calls cognitive applications, which is artificial intelligence. Cloud and Cognitive Software division, which includes Red Hat, reached $5.44 billion in the first quarter. Total cloud revenue jumped 19% to $26.3 billion over the last 12 months.
With the big push into cloud computing, IBM should be a big turn around stock and a good stock to own for the coming year.
IBM major technology stock will continue to grow.
IGM long term stock for retirement.
IBM stocks are for my IRA retirement fund
IGM is for holding long term for retirement.
I love IBM for my retirement fund.
IBM will rise again.
IBM is a great turn-around big cap stock for long term.