US EditionIBM Stock Rebounds After Anthropic Claude Code Sell-Off - IBM (NYSE:IBM)
- On Tuesday, IBM shares rebounded intraday after an earlier sell-off, trading higher at the time of publication as Monday and Tuesday’s volatility highlighted legacy-technology risks.
- Anthropic's blog post promoted Claude Code, touting its ability to map dependencies, document workflows, and flag risks in COBOL systems, prompting the initial sell-off.
- Technicals show mixed signals as IBM trades 16.7% below its 200-day SMA and 21% below its 100-day SMA, with MACD at-14.3982 indicating bearish momentum despite a Buy consensus at $319.71.
- IBM's legacy-services revenue faces potential pressure as investors worry generative AI automation could shrink profits or let rivals undercut IBM on modernization projects.
- Longer-Term metrics suggest mixed resilience for IBM as its shares have fallen 10.79% over 12 months, while Benzinga Edge quality score 88.19 contrasts with weak momentum metrics.
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IBM Lost $31 Billion in 1 Day on AI Fears. Should You Buy the Dip?
Key PointsIBM stock fell roughly 13% in Monday's trading in response to concerns that new AI tools could have a disruptive impact on the company. Anthropic is touting Claude Code's ability to modernize COBOL code, and it's possible the tech will create headwinds for IBM. IBM's valuation multiples have been cut following a more-than 20% slide for the stock this year, but that doesn't necessarily mean it's cheap. 10 stocks we like better than Inte…
IBM Stock Rebounds After Anthropic Claude Code Sell-Off - IBM (NYSE:IBM)
International Business Machines Corp (NYSE: IBM) shares are rebounding Tuesday morning after plunging more than 13% Monday, when fears about artificial-intelligence disruption hammered the legacy tech giant.
Disruption of technology stocks has reached a high point on Monday evening, software companies, cybersecurity companies and now IBM are shaking. Is it really that bad?
Explained | What is COBOL? How an Anthropic Claude blog wiped $30 billion off IBM in a single session
A blog post from Anthropic caused IBM's market value to drop over $30 billion due to concerns about COBOL. Here's everything you need to know about COBOL and the now viral blog from Anthropic
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