International Business Machines Corporation (IBM)

Outperform Recap: Q1 2026

Another Beat and Record Q1 Cash Flow, Yet the Stock Falls Again: the AI-Disruption De-Rating Has Overshot

Hold Recap: Q4 2025

Software Accelerates and Free Cash Flow Hits a Record, But a Full Multiple and a Fading Z Cycle Temper the Setup

Hold Recap: Q3 2025

The Guide-Raise IBM Withheld in Q2 Finally Arrives, and the Dip Gets Bought

Hold Recap: Q2 2025

Beat, Raise, and Sell: A Narrow Software Miss Buries a z17 Blowout and an FCF Guide-Up