What's Going On With IBM Stock Tuesday?

IBM stock rose 0.81% to $323.02 on Tuesday as the company announced a $10 billion investment in quantum computing over the next five years, targeting the development of a fault-tolerant quantum computer by 2029. The stock is trading significantly above its moving averages with an RSI of 83.92, indicating overbought conditions. IBM currently operates over 90 quantum systems globally and has signed $1.1 billion in quantum contracts since 2017.