IBM Hits 22-Week Low Amid Intensifying Scrutiny of AI Strategy

IBM shares hit a 22-week low on February 19, 2026, as investors questioned the sustainability of the company’s AI-driven renaissance. The stock closed at $256.28 (-1.73%), extending a four-week decline of 12.27%.

• Management expects $15.7 billion in free cash flow for 2026, supported by a milestone $12.5 billion generative AI book of business.
• The decline is attributed to broader market instability and specific execution risks regarding the Confluent and HashiCorp integrations.
• Increased scrutiny from short sellers continues to weigh on the stock despite the company's significant AI milestones.