IBM Finds Fans in a Market Where Boring Is Rewarded

It’s been decades since investors looked on IBM as an exciting tech stock, but with high-growth shares plunging this year, that lack of flashiness has become one of its most-desired qualities.

International Business Machines Corp.’s low valuation, high dividend yield, and cash flow have helped the stock outperform the broader technology sector in an environment marked by high inflation, which has led to rising interest rates and concern a recession is looming. Those attributes could be on display Wednesday as IBM, which offers infrastructure, cloud, and IT services, reports third-quarter results.