Stock Market Today, July 14: IBM Plunges on Second-Quarter Warning as AI Shifts Enterprise Spending
Today, July 14, 2026, customers redirected IT budgets away from software and infrastructure, raising questions about near-term demand durability.
Overview
International Business Machines (NYSE:IBM), an enterprise software, consulting, and mainframe infrastructure provider, closed at $217.05, down 25.21%. The stock plunged after IBM issued a preliminary second-quarter warning, and investors are watching July 22 results for more details.
Trading volume reached 64.0 million shares, coming in about 551% above its three-month average of 9.8 million shares.
The S&P 500 (SNPINDEX:^GSPC) rose 0.38% to 7,544, while the Nasdaq Composite (NASDAQINDEX:^IXIC) added 0.90% to 26,107. Among technology hardware, software, consulting, and IT services peers, Accenture (NYSE:ACN) fell 2.86% to $134.56 and DXC Technology (NYSE:DXC) dropped 5.66% to $9.16 as budget pressure and weaker consulting demand stayed in focus.
Details
IBM’s stock had its worst day in the company's 115-year history after its surprise Q2 warning. The company said customers have shifted IT budgets away from its software and infrastructure offerings, focusing on artificial intelligence (AI) hardware to ensure adequate supply.
Source
Originally published at www.fool.com.