IBM's biggest drop since the 1960s due to capital expenditure problems. Goldman's warning software. Bear City

IBM UNEXPECTEDLY ISSUED THE SECOND QUARTER WARNING IN THE MORNING OF TUESDAY, RESULTING IN A 24 PER CENT COLLAPSE IN STOCK PRICES IN NEW YORK TRANSACTIONS. IF THIS LOSS CONTINUES UNTIL THE CLOSE, IBM WILL HAVE THE LARGEST SINGLE-DAY FALL SINCE 1968. IBM SALES FOR THE SECOND QUARTER OF THE YEAR WERE $17.2 BILLION, LOWER THAN EXPECTED, $17.8 BILLION, AND NON-GAAP GAINS OF $2.93 PER SHARE, LOWER THAN EXPECTED, $3.02. THE COMPANY INDICATED THAT THE RE-PRIORITIZATION OF CAPITAL EXPENDITURES AFFECTED THE CLIENT ' S PURCHASING PATTERN AND RESULTED IN SEVERAL LARGE TRANSACTIONS NOT BEING COMPLETED ON TIME. ANALYSTS WARNED THAT THE TRANSFER OF THE CORPORATE TECHNOLOGY BUDGET TO THE AI INFRASTRUCTURE COULD AFFECT TRADITIONAL SOFTWARE AND IT SERVICES。