IBM shares plunge 25% as AI spending boom hammers business: ‘Ugly moment for software stocks’
NY Post
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The company has been trying to reduce its reliance on the cyclical mainframe business by focusing on its software unit including its high-margin Red Hat business, which helps firms run applications across different cloud providers.
IBM Shares Plunge 25% on Revenue Warning
- IBM shares drop more than 17% after company warns second-quarter earnings fell short of expectations CNBC —
- IBM warns AI boom is squeezing software budgets RTE —
- IBM’s warning sows anxiety for investors Semafor —
- IBM shares plunge as it forecasts second-quarter revenue below estimates The Globe and Mail —
- IBM tumbles more than 20% as RSI signals oversold and multiple moving averages are broken Seeking Alpha —