IBM Stock Rockets 28%: AI Boom, Quantum Breakthroughs & Big Deals Spark Rally
IBM closed at $281.28 on Oct. 17, up 28% year-to-date and near multi-year highs. The company announced new AI partnerships with Bharti Airtel, AMD, and Anthropic, and agreed to acquire SAP consultant Cognitus. IBM will report Q3 results on Oct. 22; analysts expect EPS around $3.00 and see limited upside unless AI/cloud growth accelerates. The stock yields 2.3% with a 45x P/E ratio.