Movement Alert｜IBM Falls 3.12% in Regular Trading, Oppenheimer Withdraws $350 Target Price Amid Continued Earnings Shock Fallout

Market Focus07-16 22:17

On July 16, IBM declined 3.12% in regular trading, trading at $205.75/share with turnover of $10.02 billion. The drop reflects continued selling pressure following Oppenheimer's downgrade and the aftershock of IBM's historic single-day collapse earlier this week.

Oppenheimer downgraded IBM from Outperform to Peer Perform and withdrew its $350 price target, citing that double-digit software growth through 2027 faces significant challenges. The downgrade came after IBM suffered its largest single-day decline since at least 1968, plunging 25% after releasing preliminary Q2 results showing revenue of $172 billion, up only 1% year-over-year and well below the consensus estimate of approximately $179 billion. Infrastructure revenue fell 7%, software growth decelerated to just 5%, and consulting posted zero growth. Management attributed the shortfall to clients redirecting capital expenditures toward servers, storage, and memory hardware amid AI-driven supply constraints, squeezing software and traditional infrastructure budgets.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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