Movement Alert｜IBM Falls 3.09% in Regular Trading, JPMorgan Cuts Target Price as Earnings Warning Aftershock Continues

Market Focus07-17 23:13

On July 17, IBM fell 3.09% in regular trading, trading at $212.1/share with turnover of $962 million, as selling pressure persisted following the company's historic earnings warning earlier this week.

On the news front, JPMorgan cut its price target on IBM from $291 to $250 while maintaining an overweight rating. This follows Oppenheimer's earlier downgrade from \"Outperform\" to \"Perform,\" withdrawing its $350 target price and noting that double-digit software growth \"faces significant challenges.\" HSBC also lowered its target from $191 to $175.

The continued weakness stems from IBM's pre-announced Q2 results showing revenue of approximately $172 billion, up only 1% year-over-year, well below the consensus estimate of roughly $179 billion. Infrastructure revenue declined 7%, software growth slowed to 5%, and consulting posted zero growth. CEO Arvind Krishna acknowledged the company \"missed\" this quarter, citing a sudden shift in client capital expenditure priorities toward AI hardware infrastructure at the expense of traditional software and services spending.

(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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