IBM Stock Plummets Amid Q2 Miss | Business and Finance News

IBM’s stock plummeted 25% after a brutal Q2 earnings miss, falling short of analyst expectations despite Red Hat’s growth. The real culprit? A much steeper-than-expected drop in its z17 mainframe business, as customers redirected spending toward servers and storage amid rising costs. Cybersecurity uncertainty also threw a wrench in spending plans. Now labeled an “AI loser,” IBM’s legacy software and slowing mainframe could trap it in a tough market perception — and investors are looking elsewhere for better long-term bets. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/7b03a9175e22008c