On August 24, Cramer stated on his show that he knows people hate IBM stock, but he believes the company is performing better than people expect. He had previously advised investors on June 4 to buy the stock after a pullback, and by July 9, he had become more aggressive, recommending buying IBM, calling it "terrific and cheap."

IBM's second-quarter revenue was $17.2 billion, with non-GAAP earnings per share of $2.93, meeting expectations. Software segment revenue grew 5% to $7.8 billion, with Red Hat growing 11% and data-related software solutions achieving double-digit growth. However, infrastructure segment revenue decreased 7% to $3.8 billion. Management adjusted its full-year constant currency revenue growth outlook to 4% to 5%. In the second quarter, the number of hedge funds holding IBM shares increased from 59 in the previous quarter to 74, with AQR Capital Management increasing its stake by 43%, Marshall Wace LLP by 492%, and Citadel Investment Group by 107%.