Before its earnings report sent shares up more than 8%,'s closing price on Tuesday was $135.53.
Before its earnings report sent shares up more than 8%,'s closing price on Tuesday was $135.53. With IBM's recent spin-off of its managed infrastructure business, Kyndryl, and its data and analytics business for health care companies, Watson Health, Big Blue is shrinking. And even before the spinoffs, IBM was plagued by growth issues for years.
The stock split perhaps allows for that discussion to take place. For years, Alphabet's high price made it impossible for the stock to be eligible in the price-weighted Dow Industrials. After the stock split though, Alphabet theoretically could be swapped out for IBM without little impact to the index since both are around the same stock price.
It's also worth noting that while many investors think of Alphabet as a tech stock, for indexing purposes, S&P Dow Jones categorizes it in the Communications Services category. IBM is a pure-play tech stock though and through.
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