Wedbush Highlights IBM’s Role in Quantum Chip Foundry Partnership

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.

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