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Tech industry
from24/7 Wall St.
1 week ago

IBM Has Fallen 16% as Anthropic Puts Them In The Bullseye

IBM's stock fell 13% after Anthropic announced Claude Code could automate COBOL modernization, IBM's core consulting business, triggering market concerns about AI disrupting its revenue model.
from24/7 Wall St.
3 weeks ago

IBM Takes Its Lumps in 2026: Is This a Buy the Dip Opportunity?

The most violent move came in a single session when Anthropic announced that its Claude Code tool is positioned as an ideal solution for code modernization, including COBOL legacy system work. That announcement hit IBM where it hurts most. A significant portion of IBM's consulting revenue comes from exactly that kind of work: helping large enterprises modernize aging mainframe and legacy codebases.
Business intelligence
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