- IBM said AI-driven customer spending shifts will cause an earnings miss; shares dropped over 25%. Past year free cash flow about $13B vs $6B in dividends; yield rose to ~3.1%.
- Analysts downgraded IBM; Oppenheimer cut the rating and Morgan Stanley warned IBM may need acquisitions or stronger software growth to meet expectations and sustain revenue momentum.
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Key facts: IBM down 25% on AI-driven spending; analysts downgrade
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IBM said AI-driven customer spending shifts will cause an earnings miss; shares dropped over 25%. Past year free cash flow about $13B vs $6B in dividends; yield rose to ~3.1%.Analy