Does that make IBM stock a bad buy in 2023? Not necessarily. IBM stock hit its all-time high of $148.74 in December of 2022, and the company’s investment in hybrid cloud services and AI might fuel more rapid growth in the future. Here’s what you need to know about IBM’s recent peak and outlook.
- The highest IBM stock has ever been was $148.74.
- IBM hit its all-time high price on Dec. 13, 2022.
- IBM stock may be undervalued compared to other tech giants.
International Business Machines Corp, or IBM, is a nearly 100-year-old company with a diverse product portfolio. Its current products and services include IT infrastructure, cybersecurity, consulting, cloud hosting and more. Its current market cap is just under $117 billion.
Historically, IBM stock has been reliable, but not a gold mine. However, with IBM’s recent foray into hybrid cloud services and the acquisition of Red Hat, the company has been in a period of overall growth since 2020.
What Is the Highest IBM Stock Has Ever Been?
IBM hit its all-time high stock closing price on Dec. 13, 2022, at $148.74. Before that, its all-time high was back in 2013, at around $134. This peak is mainly the result of IBM’s acquisition of Red Hat, an IT company specializing in hybrid cloud services, and its expansion into AI technology.
Is It a Good Buy?
IBM doesn’t make it to GOBankingRates’ list of the best tech companies to invest in this year. Despite its positive outlook, it doesn’t offer the reliability of companies like Alphabet or Meta. However, with a relatively low P/E ratio, IBM stock may be undervalued compared to other big names in the tech industry.
IBM stock has been declining since its recent all-time high. However, considering its expansion into cloud and AI technologies, IBM might continue the upward growth of 2022 and see an even stronger financial year in 2023. Although it isn’t as reliable as Apple or another tech giant, IBM stock may be a worthwhile investment in the long term.
FAQHere are the answers to some of the most frequently asked questions regarding IBM stock.
- Is IBM bigger than Apple?
- Although IBM has more employees, it currently has a smaller market cap and a slower rate of growth than Apple.
- When was the last time IBM's stock split?
- The last time IBM's stock split was in May of 1999.
- How many shares of IBM are outstanding?
- IBM currently has over 905 million outstanding shares as of March 3, 2023.
- Is IBM a good stock to buy?
- IBM stock isn't considered the best buy in the tech sector. However, it shows some promise for its growth in the blockchain sector and may continue to grow after recent investments in new tech.
- How do you find a stock price on a certain date?
- Once you have picked a platform, like Google Finance or Yahoo Finance, and searched for your stock, you can click "max" to display the stock's entire history. From there, you can move your cursor along the bottom of the chart to look at specific dates and prices.
Information is accurate as of March 3, 2023.
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- CX Today. 2022. "Hybrid Cloud and AI: The Rocket Fuel for IBM’s Growth."
- Macrotrends. "IBM - 61 Year Stock Price History."
- CompaniesMarketCap. "Number of shares outstanding for IBM (IBM)."
- Red Hat. 2019. "IBM Closes Landmark Acquisition of Red Hat for $34 Billion; Defines Open, Hybrid Cloud Future."
- GlobalData. "International Business Machines Corp: Overview."