The Financial Post reports in its Friday, March 22, edition that IBM has recently reached its highest stock price since 2013. This has led investors to believe that the company's turnaround efforts are finally paying off after years of disappointing growth and share price returns. A Bloomberg dispatch to the Post reports that despite not being among the "Magnificent Seven", IBM has still gained 19 per cent this year, including dividends, which is only behind Nvidia and Meta. Nia Impact Advisors manager Jethro Townsend says, "IBM has been discounted by the rest of the industry, but it has made a lot of investments in both cloud and AI, and with a strong AI business, we could see growth inflecting higher." He cites IBM's cash flow generation and "healthy" dividend yield as factors that provide room for it to rerate higher. Much of the year's advance followed IBM's results in late January, when it gave a better-than-expected forecast for both free cash flow and revenue and said it was seeing growing demand for its AI products. The company has also cut jobs and expects to pause hiring for roles that could be replaced with AI, which is seen as a potential tailwind for margins.