WS #12059
IBM shares crater 25%+ after Q2 revenue and profit miss, first miss since 2014; HSBC downgrades to underweight; contagion feared for Microsoft and software sector. KeyBanc downgrades Apple to Underweight, citing limits to hardware pricing power and demand concerns. New York freezes new data centers for a year; CleanSpark and TeraWulf hit, though CleanSpark secures $6.6B Georgia lease.
IBM Historic Plunge and Tech Selloff
IBM shares crater 25%+ after Q2 revenue and profit miss, first miss since 2014; HSBC downgrades to underweight; contagion feared for Microsoft and software sector.
KeyBanc downgrades Apple to Underweight, citing limits to hardware pricing power and demand concerns.
New York freezes new data centers for a year; CleanSpark and TeraWulf hit, though CleanSpark secures $6.6B Georgia lease.