IBM has fallen 16% as Anthropic puts them on target

IBM has fallen 16% as Anthropic puts them on target

IBM (IBM) has lost 15.9% so far this year after Anthropic’s Claude Code tool threatened to automate COBOL modernization, IBM’s highest-margin consulting work, although fourth-quarter revenue grew 12% to $19.69 billion and generative AI bookings surpassed $12.5 billion. Franklin Resources (BEN) added 849,500 shares and Invesco (IVZ) increased its stake by 2.2%, indicating institutional confidence…

Read More