Is It Time To Consider Buying International Business Machines Corporation (NYSE:IBM)?

Today we’re going to take a look at the well-established International Business Machines Corporation (NYSE:IBM). The company’s stock received a lot of attention from a substantial price increase on the NYSE over the last few months. As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock. However, could the stock still be trading at a relatively cheap price? Let’s examine International Business Machines’s valuation and outlook in more detail to determine if there’s still a bargain opportunity.

See our latest analysis for International Business Machines

Is International Business Machines Still Cheap?

The stock seems fairly valued at the moment according to my valuation model. It’s trading around 15% below my intrinsic value, which means if you buy International Business Machines today, you’d be paying a reasonable price for it. And if you believe the company’s

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December Jobs: Employment Rises by 717,000 All of Them Part Time – Mish Talk

Payroll and employment data from the BLS, chart by Mish

Payroll and employment data from the BLS, chart by Mish

Today, the Bureau of Labor Statistics released its Monthly Payroll Report.

Initial Thoughts

  • The divergence between jobs and employment continues for the ninth month but lessened in December.
  • However, the full time employment divergence did not budge.
  • The divergences between jobs and employment date back to March.

Payrolls vs Employment Since March 2022

  • Nonfarm Payrolls: +2,887,000
  • Employment Level: +916,000
  • Full Time Employment: -288,000

Full time employment is down 288,000 since March and down by 444,000 since May!

Mainstream media misses general miss the big picture captured in my lead chart. This is not strong employment growth. 

The internal details have been weak for 9 month and I have been talking about the discrepancy for six of them. The charge of employment “noise” is a siren song. 

Job Report Details

  • Nonfarm Payroll: +223,000 to 153,743  – Establishment Survey
  • Civilian Non-institutional Population:
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