Apple And IBM Announce Unprecedented Partnership

A monumental deal between IBM IBM and Apple AAPL was announced Tuesday, moving both stocks higher.

IBM will begin selling iPhones and iPads to business clients globally.

In addition, IBM will build apps for the iPhone and iPad, an array of cloud services, support for enterprise customers and offerings for device activation, supply and management. The purpose of these developments is to make business use of Apple products more powerful and efficient.

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Apple CEO Tim Cook commented on the update, “For the first time ever we’re putting IBM’s renowned big data analytics at iOS users’ fingertips, which opens up a large market opportunity for Apple. This is a radical step for enterprise and something that only Apple and IBM can deliver.”

Shares of Apple were last trading 1.2 percent higher while IBM shares were up 1.9 percent.