Dow component International Business Machines Corporation could emerge as the financial market’s blockchain darling in 2018, lifting the stock well above $200 to all-time highs. The company has already captured the industry’s top slot according to a survey of IT professionals, but starry-eyed traders have chosen to ignore the achievement, instead throwing speculative capital at beaten-down micro caps transformed overnight into quasi-blockchain investors.
Shares of Big Blue gained less than 6% in the fourth quarter of 2017 despite its blockchain growth, grinding through a basing pattern in the lower half of a brutal five-year trading range. However, the stock has flown out of the gate in 2018, hitting a nine-month high while surpassing the prior quarter’s performance in just two weeks. This bullish action bodes well for this week’s earnings confessional, which could ignite a euphoric burst into the $170s, especially if the 106-year-old technology giant outlines initiatives to further capitalize on its powerful positioning. (See also: IBM Plans Its Blockchain Dominance.)
IBM has emerged as the world’s top blockchain player, and the stock could rally to new highs in the coming months. …read more
Read more here: IBM Could Ride Blockchain Craze to New Highs