Movement Alert｜IBM Falls 3.01% in After-Hours Trading, Profit-Taking Pressure Persists After 40% Rally Since May

Market Focus06-04 04:48

On June 3, IBM fell 3.01% in after-hours trading, trading at $298.8/share, with trading volume of $78.16 million. The decline extends intraday selling pressure as the stock continues to pull back from its recent surge.

On the news front, IBM has accumulated approximately 40% in gains since May, triggering sustained profit-taking as bulls chose to lock in gains. Despite multiple analyst upgrades — Wedbush Securities raised its target price from $320 to $350 reiterating an Outperform rating, and Citigroup lifted its target from $285 to $375 — the outsized prior rally continues to weigh on sentiment. Wedbush noted that AI is delivering incremental tailwinds and that IBM's quantum computing positioning remains undervalued by investors. IBM previously disclosed plans to invest over $10 billion in quantum computing over the next five years, targeting the world's first large-scale fault-tolerant quantum computer by 2029, supported by approximately $1 billion in funding from the U.S. Department of Commerce.

(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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