IBM's stock just had its worst day since 1968
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Always AI's Fault: IBM took the unusual step of warning shareholders ahead of its financial results for the second quarter of 2026. Revenue is still growing slightly, but the industry's AI-driven FOMO is expected to significantly affect the company's prospects across some of its most important product lines.
In a recent letter to investors, IBM CEO Arvind Krishna explained that the company experienced some unexpected shortfalls in its latest financial performance. The former pioneer of the personal computer industry now primarily sells software, cloud services, and mainframe systems, but potential customers have recently scaled back major mainframe investments because the AI boom is pushing companies to prioritize spending on memory chips, storage drives, and GPUs instead.
According to the preliminary figures shared in Krishna's letter, IBM remains in solid shape. The company's revenue...
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