IBM Is Starting to Break Out

IBM ($IBM) has not been a strong performer this year, but it’s perked up recently. Earnings are due out tomorrow.

The stock is getting a nice bounce today on news that it’s teaming up with Apple on business software:

In a deal that could deepen Apple’s sales to corporations and strengthen IBM’s position in business software, the two companies announced a wide-ranging partnership intended to spread advanced mobile and data analysis technology in the corporate world.

IBM and Apple have been working together on the venture for several months, and they are jointly working on more than 100 business software programs developed exclusively for Apple’s iOS operating system and for use on iPhones and iPads. The applications will be tailored for use in industries including retail, health care, transportation, banking, insurance and telecommunications.

“We’ve already seen some unbelievable work,” Timothy D. Cook, Apple’s chief executive, said in an interview conducted along with Virginia M. Rometty, IBM’s chief executive. Mr. Cook described the venture with IBM as “a landmark partnership” for both companies.

Posted by Eddy Elfenbein on July 16th, 2014 at 12:13 pm

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