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International Business Machines Corporation

IBM · NYSE

Market closed$212.67$-6.38 (-2.91%)After hours $212.44 · -0.11%

Key statistics

Previous close$219.05
Open$216.22
Day high$217.17
Day low$210.22
52-week high$332.46
52-week low$204.44
Market cap199.89B
Volume11.75M
Average volume10.84M
P/E ratio17.90
Forward P/E11.62
EPS11.88
Dividend yield+3.16%

Market context

Why it moved

IBM shares continued to slide Friday, extending their worst week in over 58 years, as Wall Street analysts including Citi, JPMorgan, and Oppenheimer slashed price targets following the company's shocking preliminary Q2 results earlier in the week, which revealed a massive revenue miss driven by mainframe deal slippage, weak software growth, and clients abruptly redirecting budgets toward AI hardware instead of IBM's higher-margin software and mainframe products.

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What is happening

Recent company-specific developments and publisher coverage.

July 18, 2026IBM shares declined modestly on Friday, extending the fallout from its historic 25% single-day plunge on July 14, as investors continued to digest the company's disappointing preliminary Q2 results and fresh analyst target cuts weighed on sentiment. JPMorgan trimmed its price target to $250 from $291 (maintaining Overweight) and Citigroup cut to $255 from $375, compounding earlier downgrades from HSBC (Reduce, $191 target) and Oppenheimer. The Q2 miss—revenue of $17.2B vs. $17.9B expected, driven by a Z mainframe shortfall, large deal slippage, and clients reprioritizing capex toward AI hardware—has also triggered securities fraud investigations by multiple law firms. IBM's full earnings call is scheduled for July 22.

-2.9126

July 17, 2026International Business Machines staged a partial recovery, gaining nearly 4% — well above double the broader market's muted session — as bargain hunters stepped in after the stock's historic ~25% collapse earlier in the week following a deeply disappointing Q2 pre-announcement. IBM cited mainframe (z17) underperformance, client capex shifting toward AI hardware, and large deal slippages as drivers of the miss, prompting a wave of analyst downgrades and target cuts — including HSBC slashing its target to $175 and Evercore ISI trimming to $250 — though the consensus Moderate Buy rating held. With IBM's formal earnings call set for July 22 and the stock still trading well below its pre-crash levels, investors are weighing whether $215 support can hold and if the structural AI displacement concerns are temporary or lasting.

3.7169

July 16, 2026IBM shares declined further Wednesday, extending Tuesday's historic 25% plunge — the worst single-day drop in the company's recorded history — after preliminary Q2 results missed Wall Street expectations. Revenue came in at $17.2 billion versus the $17.86 billion consensus, with CEO Arvind Krishna citing a late-quarter shift in enterprise capital spending toward AI hardware (servers, storage, memory) and cybersecurity reassessment tied to Anthropic's Mythos model, which caused large mainframe deals to slip. The selloff triggered a wave of analyst actions: HSBC downgraded IBM to Reduce with a $191 target, Oppenheimer cut to Market Perform, and BofA trimmed its price target to $280 while keeping a Buy. Securities fraud investigations were also announced by multiple law firms. IBM's warning rippled across the software and IT services sector, pressuring peers including ServiceNow, Salesforce, and Accenture, while paradoxically lifting cybersecurity names like CrowdStrike.

-2.7042

July 15, 2026International Business Machines plunged on its worst day in decades after releasing disappointing preliminary Q2 results, with revenue of $17.2 billion missing the $17.86 billion consensus and adjusted EPS of $2.93 falling short of the $3.02 estimate. CEO Arvind Krishna admitted IBM 'did not adapt and move quickly enough,' citing a sharp late-quarter customer capex pivot toward servers, storage, and memory that derailed Z mainframe and transaction-processing software deals, while rapidly evolving cybersecurity concerns further disrupted purchasing decisions. HSBC downgraded IBM to Reduce with a $191 target, securities fraud investigations were announced, and the selloff rippled into software and IT services peers, though cybersecurity stocks surged on the read-through that enterprise security budgets remain intact.

-25.2076

July 14, 2026International Business Machines edged higher Monday, outperforming a broadly weaker technology sector — the XLK ETF closed slightly lower — as U.S.-Iran tensions drove oil prices sharply higher and weighed on chip stocks. IBM's relative resilience comes ahead of its July 22 Q2 earnings report, with investors weighing strong AI and quantum momentum against emerging headwinds: Starbucks recently announced plans to build internal AI tools to replace IBM software, raising enterprise customer defection risk, while Susquehanna initiated coverage at Neutral. On the positive side, Morgan Stanley upgraded IBM to Overweight in late June, the company beat Q1 estimates with 9.5% revenue growth and raised its dividend, and multiple institutional investors have been boosting their stakes. Analysts hold a Moderate Buy consensus with a $306 average price target.

0.9285

July 11, 2026International Business Machines fell nearly 2.6% on Friday amid a broader tech sector pullback driven by AI valuation concerns, profit-taking ahead of its July 22 Q2 earnings report, and geopolitical uncertainty stemming from U.S.-Iran military exchanges in the Gulf. The decline came despite a constructive news backdrop — including AI upgrades to the Bob platform, new z17 and LinuxONE 5 systems, a quantum computing breakthrough, and Bank of America's raised price target of $330 — as traders appear to be rotating out of the name while awaiting a clearer earnings catalyst. A separate headwind emerged from Starbucks' move to reduce dependence on IBM and Microsoft software, raising concerns about enterprise software attrition even as IBM maintains a consensus "Moderate Buy" rating with a $306.47 average target.

-2.6211

July 10, 2026International Business Machines shares fell sharply, pressured by a Bloomberg report that Starbucks is developing in-house AI-powered software to replace IBM maintenance management tools as part of a broader $2 billion cost-cutting effort — raising concerns about enterprise customers using AI to reduce vendor software spending. The decline came despite an otherwise constructive backdrop: IBM updated its Bob agentic software platform with multi-agent capabilities, Bank of America recently raised its price target to $330 citing software strength and Red Hat momentum, and investors are awaiting Q2 2026 earnings on July 22. Geopolitical headwinds from renewed U.S.-Iran strikes and rising oil prices added broader market pressure.

-2.2347

July 9, 2026International Business Machines closed modestly lower, pulled back alongside the broader technology sector as a sharp risk-off move gripped markets after President Trump declared the U.S.-Iran ceasefire 'over,' sending oil prices surging more than 5% and triggering a global equity selloff. The pullback comes despite a strong recent run for IBM — shares jumped 3.5% on July 7 after Bank of America raised its price target to $330, citing software strength, Red Hat momentum, and the potential for a guidance hike at the July 22 Q2 earnings report, where investors will scrutinize AI monetization progress and margin trends.

-1.3328

Seeking Alpha · July 17, 2026Does IBM's miss signal broader enterprise software risk? (IBM:NYSE)Bloomberg.com · July 17, 2026IBM’s Warning Is a ‘Hammer’ Slamming Down on Tech’s AI OutsidersInvesting.com · July 16, 2026Bernstein reiterates IBM stock rating amid mainframe weaknessInvestor's Business Daily · July 15, 2026IBM Stock: What Wall Street Is Watching Next After 25% TumbleThe New York Times · July 15, 2026Is IBM a Canary in the Tech Coal Mine?CNBC · July 15, 2026IBM just had its worst day ever. Oppenheimer thinks investors should stay away from the stockSeeking Alpha · July 15, 2026IBM: Fake AI Story Unravels (NYSE:IBM)MarketWatch · July 14, 2026What IBM’s profit warning means: Hardware is ‘eating everyone’s lunch’
Benzinga · July 17, 2026Why Is IBM Stock Falling Friday?
Benzinga · July 17, 2026JP Morgan Maintains Overweight on IBM, Lowers Price Target to $250
Mt Newswire · July 17, 2026Citigroup Adjusts IBM Price Target to $255 From $375, Maintains Buy Rating
Mt Newswire · July 17, 2026JPMorgan Adjusts Price Target on IBM to $250 From $291, Maintains Overweight Rating
Benzinga · July 16, 2026Stock of the Day: Is This the Bottom for IBM?
Benzinga · July 16, 2026Argus Research Maintains Buy on IBM, Lowers Price Target to $280
Benzinga · July 16, 2026What’s Going on With IBM Stock on Thursday?
Mt Newswire · July 16, 2026Argus Adjusts Price Target on IBM to $280 From $360, Maintains Buy Rating

Peers

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