IBM shares, which recently hit a new all-time high, were up $3.60, or 1.78%, to $206.32 on Tuesday.
Bank of America Merrill Lynch also highlighted the broader attractiveness of tech stocks, including IBM, in a note released on Tuesday. "The NASDAQ Composite has had a significant technical breakout spanning eleven years," explained technical research analyst Mary Ann Bartels. "It is common for a breakout to be tested and we believe any correction to test the breakout is a buying opportunity."The investment bank's favored mega-cap technology stocks are IBM, Intel, Microsoft, eBay (EBAY), Cisco (CSCO) and Qualcomm (QCOM), she added. In addition to IBM, Intel (INTC) also reports its first-quarter results after market close on Tuesday, with investors keen to hear more details about the no.1 chip maker's mobile strategy. Analysts surveyed by Thomson Reuters expect Intel to report revenue of $12.84 billion and earnings of 50 cents a share. -- Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: firstname.lastname@example.org. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV