Be Bullish on IBM, Bearish on HP

Despite posting nothing new, IBM (IBM) staged a strong rally. Shares traded at around $165 in May. It closed at $202.13 last week. The firm offers minimal growth and fair value. Why is IBM stock up?IBM is at highs not seen since 2013 because the firm posted second-quarter results and guidance that met expectations. In Q2, CEO Arvind Krishna said that clients continued to seek IBM for its technology and expertise in enterprise AI.IBM stock continues to offer investors in the AI sector good value. Chip stocks like Nvidia (NVDA), Intel (INTC), and AMD are pricier. Should IBM continue to meet…