IBM Stock Plummets Amid Earnings Warning
Shares of IBM dropped by as much as 25% after management issued a warning about lower-than-expected second-quarter earnings, primarily due to underperformance in its software and infrastructure division. The decline pushed the stock into bear market territory with an annual drop now at 26%, marking what could be the worst single-day loss in IBM's history.
Topics: AI workloads bear market IBM mainframes stock decline