International Business Machines is trading at $204.79 (-3.04%) as the market continues to react to the company's July 14 preliminary Q2 results.
- Revenue rose only 1% to $17.2 billion, missing expectations due to weaker IBM Z performance and delayed large deals.
- Management noted that some clients are shifting their infrastructure spending toward AI hardware.
- The stock remains under pressure as investors digest the impact of reallocated enterprise IT budgets.