Just remarkable to see a $175B solid – but slow growth – company break out like this. Since the DJIA is price weighted unlike any other index, the higher the stock price the more impact… and IBM has the most effect on the average of the 30 components – by a long shot. Rather than a 3.33% impact, it is nearly 10%. (for comparison, a stock many consider a reflection of the entire U.S. economy – General Electric – only has a 1.2% weighting due to its low stock price).
This stock is unstoppable right now and I continue to catch myself saying “wow” “can’t believe it” “amazing” etc.
International Business Machines Corp. (IBM)
Disclosure: No Position