Movement Alert｜Figma Falls 7.99% in Regular Trading, IBM Preliminary Earnings Miss Drags Down Software Sector

Market Focus07-14 21:51

On July 14, Figma fell 7.99% in regular trading, trading at $22.27/share, with turnover of $118 million. The decline came as IBM's disappointing preliminary Q2 results triggered a broad sell-off across the software sector, compounded by profit-taking following Figma's 5%-plus rally the prior session.

IBM disclosed preliminary Q2 revenue of approximately $17.2 billion, missing the consensus estimate of ~$18.0 billion by roughly 4%. CEO Arvind Krishna attributed the shortfall to customers aggressively redirecting capital expenditure toward servers, storage, and memory hardware to secure supply amid industry-wide shortages, thereby cutting software budgets. The miss reignited concerns that AI infrastructure spending is cannibalizing enterprise software demand. In the aftermath, ServiceNow and Figma each fell over 7%, Workday dropped more than 6%, while Intuit, Adobe, and SAP declined over 4%.

Additionally, Figma's prior-session gains — driven by a Citi industry outlook report that raised AI sector revenue forecasts from $2.8 trillion to $3.3 trillion through 2030 — set the stage for pronounced profit-taking as sentiment reversed.

(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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