IBM loses quarter of its value as tech giant’s shares plunge and profits falter

IBM's stock nosedived by over 25% following a profit warning and weak second-quarter results, marking one of its steepest single-day declines since the 1987 market crash. The tech giant's struggles rippled through the software sector, notably affecting Microsoft. IBM attributed its disappointing performance to changes in corporate spending patterns, which raises concerns about the tech industry's resilience amid shifting market dynamics. This shakeup underscores the vulnerability of even the most established tech firms to evolving market trends.