June 23 gave me three reasons to pay closer attention to International Business Machines (IBM), also known simply as “Big Blue.” All three arrived together in a period of less than 48 hours. – June 23, JPMorgan analyst Brian Essex upgraded IBM to Overweight from Neutral, raising…
s price target to $291 from $270, according to TheStreet. – President Trump signed two executive orders on quantum computing on Monday, June 22, according to The White House. – June 23, Veteran NYSE floor trader Stephen “Sarge” Guilfoyle, someone who has been navigating markets since before most retail investors were born, publicly laid out why IBM is his quantum computing play of choice, and put an aggressive $410 price target on the table. This name has become my quantum computing play
Guilfoyle continued to write in his “Trade-Ideas” newsletter on TheStreet Pro. “I believe ultimately that IBM will be the winner in this space.” IBM shares were trading around $261.72 on the morning of June 24, according to Yahoo Finance, down on the day, bucking a broader bearish trend in tech. Guilfoyle’s response to that? “Sell IBM? No thanks.
Buy more before it hits that 21-day EMA? Almost definitely.” Why JPMorgan just upgraded IBM Essex’s upgrade wasn’t about quantum computing, which I find interesting, given that it’s Guilfoyle’s primary thesis. The JPMorgan analyst cited increased confidence in a software acceleration in the second half of 2026, according to TheStreet.