International Business Machines Corporation (IBM) Is Doing Well, Says Jim Cramer

We recently published 9 Stocks Jim Cramer Recently Talked About As He Said I’m A Quantum Computing “Believer”. International Business Machines Corporation (NYSE:IBM) is one of the stocks Jim Cramer recently discussed.

International Business Machines Corporation (NYSE:IBM) is one of the largest and most important technology companies in the world. Its shares have gained 7.7% year-to-date but have lost 16% since late July. The dip in International Business Machines Corporation (NYSE:IBM)’s stock started after its software revenue of $7.39 billion during its latest quarter missed analyst estimates of $7.43 billion. Cramer’s previous comments about International Business Machines Corporation (NYSE:IBM) have remarked that the stock could slowly edge higher over time. This time, he commented on the firm in the context of quantum computing:

“Call me a believer, in quantum. And I think it’s catching up and doing something. Also by the way, IBM and Google are doing well.

“But I’ve got to tell you, quantum, I cannot believe that I’m a believer, but I am a believer.”

International Business Machines Corporation (IBM) Is Doing Well, Says Jim Cramer

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Here is what Cramer said about International Business Machines Corporation (NYSE:IBM) after its earnings:

“Most of the news is good this morning, IBM. I still think not as bad, uh, Chipotle we have to talk about.

“People felt the software was slower. I think they’ve got this great mainframe cycle. I don’t think you abandon the stock at all. This is another one, classic overreaction, has a higher P/E multiple than it did.”

While we acknowledge the risk and potential of IBM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IBM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.