IBM Stock Is Having the Worst Day in Its History

IBM shares plummeted as much as 25% after the company issued a warning about Q2 earnings, citing lower-than-expected revenue due to clients shifting spending away from IBM products toward storage and memory infrastructure ahead of anticipated price increases. The stock drop represents the worst single day in IBM's 115-year history, surpassing the 1987 Black Monday decline. CEO Arvind Krishna acknowledged the company failed to adapt quickly enough and numerous large deals missed expected timelines.