Movement Alert｜IBM Falls 3.08% in Pre-Market Trading, Profit-Taking After 40% Rally Despite Wedbush Target Price Hike to $350

Market Focus06-03

On June 3, IBM fell 3.08% in pre-market trading, trading at $320.0/share, with trading volume of $14.41 million. The decline comes amid profit-taking pressure following a cumulative gain of approximately 40% since May.

On the news front, Wedbush Securities raised its target price on IBM from $320 to $350 and reiterated its Outperform rating, stating that AI is delivering incremental benefits to the company. Wedbush noted that IBM's product portfolio across AI, hybrid cloud, automation, and cybersecurity continues to demonstrate strong growth momentum, and highlighted that IBM's quantum computing positioning remains undervalued by investors.

IBM recently disclosed plans to invest over $10 billion in quantum computing over the next five years, with $5 billion directed toward open-source AI-related software projects. Additionally, the U.S. Department of Commerce has proposed approximately $1 billion in CHIPS Act funding to support the establishment of Anderon, a dedicated quantum chip manufacturing entity. The stock's prior rally was also fueled by a resurfaced video of President Trump praising IBM's CEO, which circulated on social media over the weekend.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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