IBM Moves Within Range of All-Time High

NEW YORK (Reuters) - Shares of International Business Machines Corp. (NYSE:IBM - news) rose on Monday, moving within striking distance of their all-time high on optimism about the second half at the world's largest computer maker.

IBM shares rose $3-1/2 to $132-5/8. The stock has been trading well off a high of $138-1/4, hit in July of 1999, going as low as $90 in November as the company and investors foresaw a Year 2000-related spending slowdown.

``I don't think there is one single thing that is driving IBM's share price upwards,'' said Lehman Brothers analyst George Elling. ``I think people are feeling more confident that the second half will improve as they hoped.''

-- cpr (buytexas@swbell.net), August 28, 2000

Answers

Sounds a lot like 1929 all over again. History repeat!

-- ET (bneville@zebra.net), August 29, 2000.

Yep, the big crash coming reeeeeeeeeeeeeeel soon!

The summer of 2001, that will go down in the history books as the beginning of the most severe depression ever, the one that drove half the human race to kill themselves, each other, and just generally die off.

Depression is too small of a word though. They will come up with a new economic term to describe it, like "The Vacuum" or "The Black Hole".

-- Uh-Oh (here@it.comes), August 29, 2000.