The two companies will work together to develop more than 100 iPhone and iPad apps for a range of industries. The apps will use some of the big data tools IBM sells to companies. IBM also promised to provide better security, analytics, mobile integration, and device management for employee mobile devices.
"For the first time ever we're putting IBM's renowned big data analytics at iOS users' fingertips, which opens up a large market opportunity for Apple," Apple CEO Tim Cook said in a press release. "This is a radical step for enterprise and something that only Apple and IBM can deliver."
Must read: Warren Buffett's 25 Favorite Stocks
TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLE INC (AAPL) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."