IBM shares soared after the company announced plans to spin off its IT infrastructure unit to focus on its cloud computing business.
But even with Thursday’s surge, the stock still trades at a valuation far below its peers. IBM’s 11 times forward price-to-earnings ratio is cheaper than the XLK tech ETF’s 25 times multiple and the SKYY cloud ETF’s 35 times multiple.
This could be the beginning of a major transformative period for the company, Tocqueville Asset Management portfolio manager John Petrides told CNBC’s “Trading Nation” on Thursday. He compared new IBM CEO Arvind Krishna to Microsoft CEO Satya Nadella’s leadership.
Nadella, Microsoft’s chief executive officer since 2014, has overseen the company’s own shift to cloud services. Revenue in Microsoft’s cloud business increased 17% to $13.4 billion in its fourth quarter ended June, accounting for more than one-third of overall sales. IBM’s cloud business generates 30% of total revenue.
BizClik Media Group announced that the October issue of Energy Digital is now live, exploring topics including virtual power plants, smart cities, IIoT and cybersecurity
NORWICH, England, Oct. 9, 2020 /PRNewswire/ — The COVID-19 pandemic has awakened the energy sector to the transformative potential of digital technology. Inefficient, costly and ineffective manual processes are being overhauled, electrified and integrated into a vastly more connected way of living and working.
In our cover story this month we spoke with Mark Lowman, Vice President of Operations at McDermott, to find out how one of Oil and Gas’ most successful companies is navigating the change.
“When I started, digitalisation was in its infancy in the industry,” he explains. “McDermott was still working in the same way it always had with adequate systems and processes while not fully understanding the benefits of digitalisation. We have created our Digital and Project Innovation Group