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IBM Shares Fall 24% in Premarket Trading; Sales Rose 1%
Cnn reported that IBM shares dropped 24% in premarket trading on July 14, 2026. The decline followed comments from CEO Arvind Krishna on weaker than expected mainframe sales and customer spending shifts toward AI infrastructure.
Jul 14, 9:27 AM·1m read1 source
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IBM shares fell 24% in premarket trading on July 14, 2026. Cnn reported that the move marked the company's steepest single-day decline since October 19, 1987, when shares dropped 23.7%. CEO Arvind Krishna said customers rapidly redirected technology budgets toward servers, storage and memory for AI datacenters.
Reduced spending on the z17 mainframe exceeded the company's expectations, he stated. "What played out was worse than our expectations," Krishna said. He added that the magnitude of capital-expenditure reprioritization surpassed earlier supply-chain forecasts.
Cnn reported that customers paused several large deals after Anthropic introduced its Mythos AI system, which the company warned could expose cybersecurity vulnerabilities. IBM responded by launching its Lightwell open-source security software. Preliminary results showed sales rose 1% in the second quarter while unadjusted earnings per share fell 2%, both below internal forecasts.
IBM is scheduled to release full quarterly results on July 22.
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