10 AI Stocks in the Spotlight This Week

8. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders: 57

International Business Machines Corporation (NYSE:IBM) is one of the 10 AI Stocks in the Spotlight This Week. On October 16, RBC Capital analyst Matthew Swanson reiterated an Outperform rating on the stock with a $315.00 price target. The rating affirmation comes ahead of the company’s third-quarter earnings report due on October 22.

RBC anticipates IBM to deliver “solid” results in the upcoming earnings announcement, highlighting that investors will be focused both on revenue sub-components and the overall top-line figure.

Investors will be particularly watching out if IBM’s Q3 performance eases doubts about meeting its full-year growth projections for both Red Hat and its total software business.

They will also be assessing its free cash flow metric, highlighting that it should continue to benefit from the company’s “clientzero” cost-saving initiatives. It uses generative AI technology to improve internal operational efficiency.

International Business Machines Corporation (NYSE:IBM) is a multinational technology company and a pioneer in artificial intelligence, offering AI consulting services and a suite of AI software products.