IBM Stock Just Had Its Worst Day Since 2000 – Jefferies Says Buy the Dip

TLDR IBM stock has dropped 28.6% in under a month, falling from $312.95 to $223.35 The selloff was triggered by Anthropic highlighting COBOL functionality in Claude Code, raising fears AI could erode IBM’s legacy business Jefferies analyst Brent Thill maintained a Buy rating with a $370 price target, calling the dip a buying opportunity IBM’s [...]

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