IBM heads for its worst day ever, but cybersecurity stocks are rallying off the same catalyst.
International Business Machines Corp.
(NYSE:IBM) warning that clients paused software and mainframe spending amid "rapidly-evolving, industry-wide cybersecurity concerns" sent the stock down more than 24% on Tuesday, heading towards its worst daily performance ever.
IBM stock is crashing.
See the chart and price action here.
The same line is being read as a demand tailwind for pure‑play cybersecurity vendors, boosting Palo Alto Networks, Inc.
IBM is on pace for its worst day ever | CNN Business
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“What played out was worse than our expectations,” CEO Arvind Krishna warned investors.
IBM shares plunged more than 23 per cent on Tuesday after the tech giant warned that customers were diverting spending
“What played out was worse than our expectations,” CEO Arvind Krishna warned investors.
In a recent letter to investors, IBM CEO Arvind Krishna explained that the company experienced some unexpected shortfalls in its…
