IBM Stock Remains Under Pressure After Historic Crash

Earnings Impact 4
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Summary · why it matters

International Business Machines remained under pressure after CNBC's Jim Cramer said the stock is not yet attractive despite its steep selloff. IBM reported preliminary second-quarter revenue of $17.2 billion, missing analysts' expectation of $17.9 billion, as some customers redirected spending toward AI-related infrastructure. Cramer noted corporate technology budgets are increasingly focused on artificial intelligence infrastructure, cybersecurity, and hardware, while other IT projects receive lower priority, a shift that could continue to weigh on IBM's business. IBM Chief Executive Arvind Krishna said customer purchasing patterns changed during the final weeks of June, and Cramer remains cautious until there is stronger evidence that delayed spending will recover rather than be canceled. IBM shares had fallen more than 25% in the previous session.

Impact on stocks 2

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International Business Machines
IBM
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IBM missed Q2 revenue estimates as customers redirected spending to AI infrastructure, and Cramer warns the shift could continue to weigh on IBM's business.

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