Movement Alert｜IBM Falls 3.08% in Regular Trading, Profit-Taking Pressure Continues After 40% Rally Since May

Market Focus06-05 22:41

On June 5, IBM fell 3.08% in regular trading, trading at $289.36/share, with trading volume of $1.04 billion. The decline reflects continued profit-taking pressure following a cumulative rally of approximately 40% since May.

IBM dropped over 7% in the prior session as quantum computing concept stocks sold off broadly. Macro headwinds compounded the weakness, with rising oil prices driven by US-Iran tensions, climbing US Treasury yields approaching 4.5% on the 10-year, and a strong ADP employment report reducing expectations for rate cuts. Market risk appetite retreated as investors reassessed the interest rate outlook.

On fundamentals, Wedbush Securities recently raised its price target on IBM to $350 from $320, reiterating an Outperform rating, citing AI as an incremental tailwind and noting that quantum computing potential remains undervalued. IBM has disclosed plans to invest over $10 billion in quantum computing over the next five years and completed the $11 billion acquisition of Confluent to build a data moat. The company also secured approximately $1 billion in US Commerce Department funding support.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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