IBM Shares Drop Sharply After Q2 Revenue Miss
On July 14, IBM shares fell by 25.21%, marking its worst single-day decline since at least 1968 and wiping out $68 billion in market value. The drop followed a pre-announced revenue miss due to clients shifting budgets toward servers, storage, and memory before price increases. Meanwhile, Micron Technology (MU) saw an increase on the same day.
Topics: AI chips IBM market reaction Micron Technology