Source: New York Post
IBM said it had “faltered” in keeping pace with a shift in corporate spending from software to data-center infrastructure and forecast second-quarter earnings below estimates, the clearest sign yet of AI’s growing toll on the sector. The warning sent IBM’s shares down 25% in trading on Tuesday, putting the stock on track for an even steeper single-day decline than it suffered during the 1987 “Black Monday” crash. Other software stocks also tumbled, dragging the Dow lower, while the iShares Expanded Tech-Software Sector ETF fell more than 4%.
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