WS #12040
IBM reported preliminary Q2 results missing analyst expectations, warning that corporate IT budgets shifted to AI infrastructure in late June, leaving software deals unclosed. IBM shares are down 17-22% premarket, dragging down software peers (NOW, MSFT, PLTR). Goldman Sachs says this should drive broad-based weakness across software and services. KeyBanc downgraded Apple (AAPL) to Underweight from Sector Weight, citing higher device prices (iPad +$100-200, MacBook price increases) that will slow growth.
IBM earnings miss triggers software sector rout
IBM reported preliminary Q2 results missing analyst expectations, warning that corporate IT budgets shifted to AI infrastructure in late June, leaving software deals unclosed. IBM shares are down 17-22% premarket, dragging down software peers (NOW, MSFT, PLTR). Goldman Sachs says this should drive broad-based weakness across software and services.
KeyBanc downgraded Apple (AAPL) to Underweight from Sector Weight, citing higher device prices (iPad +$100-200, MacBook price increases) that will slow growth.