WS #12053
IBM plunges ~23% premarket on Q2 warning, dragging Microsoft down 3.3% and raising fears of enterprise tech slowdown. June CPI comes in at 3.5% YoY vs 3.8% consensus, Bitcoin jumps to $64K, risk appetite improves. NY Governor Hochul signs executive order imposing one-year moratorium on data centers over 50MW, negative for hyperscalers and data center REITs. AMD stock jumps over 4% as Keybanc, Bank of America, and TD Cowen raise price targets on AI GPU demand.
IBM earnings warning and tech contagion
IBM plunges ~23% premarket on Q2 warning, dragging Microsoft down 3.3% and raising fears of enterprise tech slowdown.
June CPI comes in at 3.5% YoY vs 3.8% consensus, Bitcoin jumps to $64K, risk appetite improves.
NY Governor Hochul signs executive order imposing one-year moratorium on data centers over 50MW, negative for hyperscalers and data center REITs.
AMD stock jumps over 4% as Keybanc, Bank of America, and TD Cowen raise price targets on AI GPU demand.