Why IBM Stock Gained 12% in March

While many tech stocks saw big sell-offs last month, IBM already traded at low earnings multiples and paid a big dividend, and its stock appears to have benefited from the market's pivot from growth to value. Investors sold out of growth-dependent technology stocks last month and started pouring into less-risky alternatives, and Big Blue's stock appears to have benefited from the trend. The company has been trying to orchestrate a pivot to cloud computing services, and its $34 billion acquisition of data analytics company Red Hat has been its biggest and boldest move on that front.