IBM stock tumbles 25% after missing revenue and earnings targets
Business
IBM's stock just dropped a whopping 25%, its biggest fall in decades, after missing revenue and earnings targets.
This shakeup is making waves for Indian tech giants like Infosys and Wipro, whose shares slipped as investors reacted to the news.
Indian IT rallies despite IBM loss
IBM's loss wiped out nearly $70 billion in market value and hit global tech stocks hard.
Still, Indian IT companies have shown surprising strength this July: the Nifty IT index climbed 9%, and midcaps like Persistent Systems jumped over 18%.
With earnings from Wipro, Tech Mahindra, and Infosys coming soon, all eyes are on how these firms will handle the pressure.