TradingKey – As of July 14, Eastern Time, IBM ( IBM )’s latest stock price stood at $217.07, plunging 25.21% on the day, with the intraday low dropping to $213.22. The rare plunge in IBM’s stock price was directly triggered by the company’s early warning that its second-quarter revenue would fall short of market expectations, pointing out that client capital expenditure is shifting from traditional software and services to data center infrastructure.
Why IBM Shares Plunged?
IBM’s warning indicates that the company expects second-quarter revenue of approximately $17.2 billion, representing a year-over-year increase of only about 1%, which fell short of market expectations of $17.86 billion; adjusted earnings per share are projected at…
