IBM Shares Drop 25 Percent After Preliminary Results Flag Shift to AI Hardware

The company attributed weak guidance to clients redirecting budgets from its software and infrastructure lines, while the Nasdaq rose the same day on semiconductor gains.

IBM shares closed at 217.05 on July 14, a decline of 25.21 percent that marked the largest single-day loss in the company's 115-year history. The move followed preliminary second-quarter results that lowered revenue expectations for the period.

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