Auto Draft

International Business Machines Corporation (NYSE:IBM) is included among the 10 Best Blue Chip Stocks to Buy for Your Retirement Portfolio.

Wedbush Highlights IBM’s Role in Quantum Chip Foundry Partnership

On May 21, Wedbush reiterated its Outperform rating and $225 price target for International Business Machines Corporation (NYSE:IBM) after the US Department of Commerce announced plans to invest in US quantum computing companies to accelerate innovation. The initiative includes a quantum chip foundry partnership with IBM.

The firm said the timeline for developing quantum computing capabilities remains a long-term focus for IBM and has not changed. Even so, Wedbush believes the U.S. government’s support for quantum computing projects could become a fresh catalyst for the industry, with IBM positioned at the center of those efforts. The analyst added that IBM is expected to continue making steady progress across its initiatives while the current US administration provides a more stable path for advancing quantum computing development, according to a research note sent to investors.

International Business Machines Corporation (NYSE:IBM) provides hybrid cloud, artificial intelligence, and consulting services worldwide. The company operates through four segments: Software, Consulting, Infrastructure, and Financing.

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.

READ NEXT: Dividend Stock Portfolio For Retirement: Top 12 Stock Picks and 10 Best June Dividend Stocks to Buy

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1