Jim Cramer on International Business Machines: “It’s Still Cheap”

International Business Machines Corporation (NYSE:IBM) is one of the stocks Jim Cramer discussed along with macroeconomic conditions. Cramer called the company stock cheap despite a noteworthy run, as he stated:

“I also asked if some of the legacy tech giants, like Cisco and IBM, could continue the better performance they’ve been putting up, and I’m happy to say that by and large, they have. Cisco’s climbed nearly 32% year to date about three weeks ago. The stock closed at a record high for the first time since March of 2000. Great win for the CNBC investing club there. Meanwhile, IBM’s up more than 38%, trading at record highs. It’s still cheap, by the way, and it still should be bought.”

Credit: IBM

International Business Machines Corporation (NYSE:IBM) provides software, consulting, and cloud and on-site technology solutions, along with financing to help clients use its products. During the November 19 episode, Cramer highlighted the company as a quantum play, as he said:

“Now, I know that many of you can’t resist the quantum computing stocks even after they sold off hard over the past month. Maybe you like to lose money. I’m against that. I would steer clear of the speculative quantum plays because the profitable companies with the best quantum computing technology are actually Alphabet and IBM. You could do worse.”

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.