IBM is trading at $282.75 (-3.09%) amid broader market weakness and softer tech sentiment, despite no company-specific news being released today.
- The decline follows a 3% weekly pullback driven by profit-taking near recent highs, even after the company reported strong Q4 results with 9% revenue growth and a $12.5B GenAI book.
- While the Dow Jones is down 0.41%, analysts maintain positive price targets near $350, suggesting the stock may be undervalued relative to its long-term AI growth prospects.