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IBM just hit its highest stock price of all time, but why?
IBMIBM(IBM) Invezz·2024-01-25 08:02

On January 23rd, the IBM stock price closed the day at 173.94–thehighestclosingprice,andalsoanALHinthesameday,inthecompany’shistoryofover100years.Butwhy?EarningsmatterCopylinktosectionLateyesterday,IBMannouncedtriumphalfinancialresultsforthe2023year,withgrossprofitsupsixpercentYoYforQ4andrevenuesupfourpercent,bothwellaheadofmarketexpectations.Dividends,too,weresignificantlyhigherthananticipated,cominginat173.94 – the highest closing price, and also an ALH in the same day, in the company’s history of over 100 years.But why? Earnings matterCopy link to sectionLate yesterday, IBM announced triumphal financial results for the 2023 year, with gross profits up six percent YoY for Q4 and revenues up four percent, both well ahead of market expectations.Dividends, too, were significantly higher than anticipated, coming in at 3.87 for Q4, as opposed to the $3.7 ...