IBM Stock Plummets After Preliminary Earnings Miss and Concerns Over AI Spending Shift
Shares of International Business Machines (NYSE: IBM) dropped more than 25% after the company preannounced disappointing Q2 results, missing revenue and earnings estimates. The decline was attributed to a combination of weak performance in memory products and shifting customer spending toward AI servers rather than traditional software or mainframe solutions.
Topics: AI impact earnings miss IBM stock price drop