International Business Machines Corporation (NYSE:IBM) is one of the Best Cloud Computing Stocks to Buy According to Hedge Funds. On June 23, Morgan Stanley lifted its price objective on the company’s stock to $267 from $225, and maintained an “Equal Weight” rating on the shares. As per the analyst, Dell and HPE earnings demonstrate that the enterprise server demand is far more inelastic than anticipated. This is despite significant price increases, considering the compute shortages, refresh activity, and increasing AI-associated infrastructure needs.

The analyst further added that the estimates…