Shares of International Business Machines Corp.
IBM,
were increasing 1.1% in midday action Tuesday and on track to advance for the ninth straight session. Tuesday’s gains put the telecommunications stock on pace to log its longest winning streak since Sept. 17, 2012, when it also rose for nine sessions in a row, according to Dow Jones Market Data. IBM shares are ahead 7.2% over the current stretch of gains. BofA Securities analyst weighed in on IBM in a June 7 note to clients, after hosting a company executive at an investor conference. He left with the view that IBM’s WatsonX is a “differentiated AI offering” because of its focus on accuracy and business use cases. “Watson X does not target the consumer, but rather enterprises,” he wrote. “In consumer AI hallucination sometimes becomes a problem. On the other hand there is no appetite for hallucination in enterprise settings.” IBM’s stock is down 2% so far this year as the Dow Jones Industrial Average has moved about 3% higher.
