IBM Plunges 25% on July 14 After Missing Q2 Earnings Forecast

IBM1.01%
According to CNBC analyst Michael Khouw, IBM plunged 25% on July 14 after announcing preliminary second-quarter earnings of $17.2 billion, missing market expectations of $17.9 billion. The decline marks the stock's largest single-day drop since at least 1968. IBM's Infrastructure business revenue fell 7%, driven by enterprise customers shifting spending from traditional software and consulting services toward hardware and servers due to AI-driven supply constraints and price increases. The stock declined an additional 2.70% on July 16, closing at $211.20.
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