IBM fell more than 22% before the market opened! U.S. memory chip stocks rebound collectively!
[Introduction] U.S. technology giant IBM fell more than 22% before the market opened, and semiconductor and memory chip stocks collectively rebounded. On July 14, the three major U.S. stock index futures rose or fell before the market opened. Nasdaq futures rose 0.57%, Dow Jones futures fell 0.57%, and S&P 500 futures fell 0.07%. It is worth mentioning that the stock price of American technology giant IBM fell sharply before the market opened because the company's preliminary revenue in the second quarter was lower than expected. As of press time, the stock's decline expanded to 22.55%.
[Introduction] US technology giant IBM fell more than 22% before the market opened, and semiconductor and memory chip stocks rebounded collectively On July 14, the three major U.S. stock index futures rose or fell before the market opened. Nasdaq futures rose 0.57%, Dow Jones futures fell 0.57%, and S&P 500 futures fell 0.07%. It is worth mentioning that the stock price of American technology giant IBM fell sharply before the market opened because the company's preliminary revenue in the second quarter was lower than expected. As of press time, the stock's decline expanded to 22.55%. On the news, IBM's preliminary second-quarter revenue was US$17.2 billion, and the market estimate was US$17.86 billion. Among them, software revenue increased by 5% and infrastructure revenue decreased by 7%. IBM CEO Arvind Krishna said that in response to supply shortages in the industry, customers have shifted capital expenditures to servers, storage and memory equipment, resulting in reduced investment in IBM software products. "In this environment, our team must be perfect, and this quarter we failed to meet the standards." Krishna said, "Our response speed and execution speed were not fast enough, and many large transactions failed to be completed as expected. This is the main reason for the performance being lower than expected." Krishna said that the actual operating conditions in the second quarter were not as good as expected and the deterioration exceeded expectations. Many large-scale orders failed to be completed as scheduled, and the scale of orders to be delivered for the distributed infrastructure business at the end of the second quarter was approximately US$500 million. IBM is expected to deliver the first large-scale fault-tolerant quantum computer by 2029. However, Morgan Stanley raised IBM's price target from $267.00 to $293.00. IBM is a multinational technology company headquartered in Armonk, New York, USA, founded in 1911. Once known as "Big Blue," it is currently the world's largest information technology and business solutions company, with businesses covering software, consulting, infrastructure and quantum computing. After IBM released its preliminary results, the stock prices of American software companies fell before the market opened. Accenture's stock price fell by more than 7%, and Intuit's stock price fell by nearly 6%. Adobe, Atlas, Oracle, etc. followed suit. In addition, U.S. semiconductor and storage concept stocks collectively rose before the market opened, with SanDisk, Western Digital, Seagate Technology, etc. all rising by more than 3%. On the news, SemiAnalysis, a top research institution focusing on semiconductors and AI infrastructure, released a report "Be Greedy When Others Are Fearful: SK Hynix's DRAM Pricing and Profitability Remains Strong" stating that SK Hynix's DRAM profitability will remain strong in the second quarter of 2026 and in the future. Some analysts pointed out that although they fully understand investors' recent concerns about the fluctuations in the memory sector, SK Hynix and other leading memory companies are currently one of the best risk-reward investment opportunities in the semiconductor field, especially after a period of adjustment. (