WS #12042
IBM shares cratered over 25% after preliminary Q2 revenue missed expectations, as customers shift spending toward AI hardware, marking its worst day on record. June CPI unexpectedly fell, marking the first decline since 2020, reducing immediate Fed rate hike expectations but tempered by rising oil prices.
IBM Preliminary Q2 Miss Triggers Historic Selloff
IBM shares cratered over 25% after preliminary Q2 revenue missed expectations, as customers shift spending toward AI hardware, marking its worst day on record.
June CPI unexpectedly fell, marking the first decline since 2020, reducing immediate Fed rate hike expectations but tempered by rising oil prices.