IBM’s shares plummeted over 7% on Thursday, marking their worst day since April. Despite this decline, some analysts believe the stock presents an attractive buying opportunity due to its potential in the software business.
In the second quarter, IBM delivered a revenue beat and maintained its full-year guidance. However, it fell short of expectations for its software revenue, which may have contributed to the stock’s drop.
Analysts are cautiously optimistic about IBM’s prospects in the software sector, given its performance in this area despite the recent quarter’s disappointing results. This suggests that while IBM’s current situation is a concern, there may be opportunities to buy and wait for potential long-term growth in the software business.
Source: https://www.marketwatch.com/story/ibms-stock-is-sliding-heres-why-these-analysts-see-an-opportunity-to-buy-2f4f6719