WS #12037
IBM preliminary Q2 revenue $17.2B vs $17.86B est., adj EPS $2.93 vs $3.02 est.; CEO cites unexpected capex reprioritization and cybersecurity distractions; stock down ~17% pre-market, worst drop since 1987. Keybanc raises price targets on NVDA ($330), AMD ($725), MU ($1750), MRVL ($400), INTC ($155) maintaining Overweight ratings; bullish for semiconductor sector. Traders see nearly 50% chance of a July rate hike after oil spike and hawkish Fed commentary; TS Lombard says Fed is behind the curve as tech economy booms. Keybanc downgrades Apple from Sector Weight to Underweight with $250 price target; a MAG7 carve-out signal contradicting the broader tech narrative.
IBM Q2 Preliminary Results Miss
IBM preliminary Q2 revenue $17.2B vs $17.86B est., adj EPS $2.93 vs $3.02 est.; CEO cites unexpected capex reprioritization and cybersecurity distractions; stock down ~17% pre-market, worst drop since 1987.
Keybanc raises price targets on NVDA ($330), AMD ($725), MU ($1750), MRVL ($400), INTC ($155) maintaining Overweight ratings; bullish for semiconductor sector.
Traders see nearly 50% chance of a July rate hike after oil spike and hawkish Fed commentary; TS Lombard says Fed is behind the curve as tech economy booms.
Keybanc downgrades Apple from Sector Weight to Underweight with $250 price target; a MAG7 carve-out signal contradicting the broader tech narrative.