International Business Machines Corp’s IBM recent investor briefing reflected its continuing focus on being a cloud-first company. Notably, cloud revenues grew 35% to $13.7 billion for this Zacks Rank #3 (Hold) stock in 2016. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
The annual exit run rate for cloud as-a-service revenue increased 53% on a year-over-year basis to $8.6 billion. Moreover, IBM had more than 50 cloud centers globally and its Bluemix platform was one of the largest open public cloud deployments worldwide at the end of 2016.
We note that the impressive growth has helped IBM outperform the S&P 500 in the last one year. While the stock has gained 18.1%, S&P increased 15.3% in the same period.
Cloud Computing: Robust Growth Expectations
We note that IBM’s growth expectations from cloud computing remains positive in the long haul. Management expects market opportunity in
To read more see the full post at: IBM's Cloud Computing Holds Potential: Should You Buy? - Yahoo Finance