Shares of software and IT services companies plunged Tuesday after International Business Machines (IBM) reported preliminary results that missed analyst expectations, reigniting questions about the sector.

Shares of IBM are sliding before the market open on Tuesday as the company provided preliminary second-quarter results that are below Wall Street’s expectations.

July 14 : IBM said it had "faltered" in keeping pace with a shift in corporate spending from software to data-center infrastructure and would take a big earnings hit in the second…

IBM shares tumbled sharply in premarket trade after the company flagged weaker-than-expected second-quarter results, missing both profit and revenue estimates. Management…