IBM shares jumped as much as 15% in premarket trading after Bloomberg described a recirculated video of President Trump stating that the stock is "going to go up a lot more."
The clip, reposted by Polymarket Money on Saturday evening, appears to have fueled another leg higher in what has already been an eye-popping, multi-week rally.
In the clip, dated December 10, Trump boasted that IBM CEO Arvind Krishna had "taken the stock from a rather low price to a very nice price."
"I won't say high because I'm sure you're going to say it's going to go up a lot more," Trump added.
Trump says$IBMis “going to go up a lot more.”pic.twitter.com/KgzV0qy19j
IBM logged the largest monthly gain in May since October 2002.
Another overnight catalyst was Barclays analyst Raimo Lenschow, who initiated coverage of IBM with an Overweight rating and a $350 price target.
Lenschow said that IBM has built a more stable growth engine around its defensive software portfolio, adding that the bull case goes well beyondquantum computing hype.
Earlier today, UBS analyst Robert Ruple provided clients with a few reasons for the recent bounce in software stocks:
Persistent AI enthusiasm has driven one of the strongest two months of performance on record for the S&P with Tech/S5INFT up 14.3% m/m, shrugging off the US/Iran stalemate and stubborn inflation. While semiconductor stocks remain the clear leaders with SOX up 81% in 2026, a key question emerging late week is what's driving the rebound in software, which was up 9.9% w/w, which appears to be extending into Monday morning, tied to comments from Nvidia CEO Jensen Huang pushing back on the "Saaspocalyse" concerns (Bloomberg).
Source: ZeroHedge News
