With most names in big tech likely to find the going tough amid stubbornly high inflation and progressive interest-rate hikes by the Federal Reserve, the balanced approach and steady growth of International Business Machines Corporation (IBM) could differentiate it from the pandemic-era “hot” stocks in the year ahead.
Late in November 2022, OpenAI opened its artificial intelligence chatbot, ChatGPT, to the general public, and the rest may very well have become history. The application took the world by storm. It amassed 1 million users in five days and 100 million monthly active users only two months into its launch to become the fastest-growing application in history.
Although 2022 was also a year to forget for big tech, with Nasdaq closing out its worst year since 2008, IBM stood out as a recession-resistant, less volatile exception. The company posted a revenue increase and topped analysts’ estimates, driven by higher-than-expected growth in the company’s software and infrastructure segments.
As a global technology company, IBM provides…
Continue reading at STOCKNEWS.com