Home Stock Ideas Long Ideas Tech  Summary IBM has transformed into a higher-quality, more predictable business with a focus on recurring software revenue and enterprise integration. Red Hat remains a strategic asset, driving hybrid cloud exposure and reinforcing IBM's relevance in enterprise IT. Disciplined capital allocation, improved balance sheet, and resilient free cash flow underpin IBM’s defensive appeal and dividend support. I continue to rate IBM a Buy, viewing risk/reward as attractive for long-term investors despite the recent re-rating. Frank Brennan/iStock Editorial via Getty Images I think many investors still view IBM ( IBM ) as a slow-growing legacy IT company, although the business changed quite a bit over the past decade. I see the recurring revenue, the importance of Red Hat Analyst’s Disclosure: I/we have a beneficial long position in the shares of IBM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions.…