IBM shares are on a winning streak, a plus for the technology company's thousands of local shareholders.
The stock rose for a seventh straight day Friday. That's the longest streak since May 2007, Bloomberg News reported. The shares are up 45 percent this year, as investors bet that the company will report wider profit margins even as the recession hurts sales.
Since July, more than half of the 26 Wall Street analysts who follow the stock have raised their price targets, Bloomberg reported.
IBM employs about 10,000 at its Research Triangle Park campus, many of whom own stock or options. That campus is still one of New York-based IBM's largest, despite cutting hundreds of local jobs this year. IBM is shifting jobs to lower-cost countries, which helps boost profit.
IBM shares also are held by many of the company's legion of local retirees, including many who moved to this region since IBM first set up shop in RTP nearly 50 years ago.
The stock closed today at $122.11, up 23 cents. IBM is the second-best-performing stock in the Dow Jones industrial average this year, after American Express.