IBM Plummets 25.21% on July 14, Wiping Out $69 Billion in Market Value, Its Worst Day Since 1968

IBM-25.23%
According to IBM's preliminary earnings report released yesterday (July 14), the company's stock plummeted 25.21% to close at $217.07, marking its largest single-day decline since at least 1968 and erasing approximately $69 billion in market value. IBM attributed the selloff to disappointing second-quarter revenue and profits, as enterprise customers sharply redirected capital expenditures toward AI infrastructure hardware including servers, storage, and memory components, dampening demand for mainframes and related infrastructure offerings.
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