The US stock market is currently experiencing sharp pangs of volatility, especially after the sudden IBM stock crash that surprised the markets in a pensive way. This stock crash was primarily triggered after Anthropics Claude reported that it could now streamline COBOL code, which until now was IBM’s exclusive core element to offer and earn revenue with. Will IBM be able to recover from this steep fall?

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IBM Stock Crash: What Happened?

IBM logo
Source: Inc Magazine

The current times are rapidly changing as artificial intelligence continues to take over the world by introducing new elements and factors each day. In a brand new development, Anthropic has recently announced how its AI model Claude can now work around COBOL code, a major programming language for business data processing dubbed a core IBM USP. Per a latest post by the Kobeissi Letter, this move outlined how the world of AI has now finally entered into a dystopian state.

This news led the IBM stocks to fall 13.2% with news of Anthropic killing IBM spreading like wildfire on the internet.

“Did Anthropic just kill IBM??? Maybe…yesterday, IBM had its worst day since 2000. The stock dropped 13%, sliding from $257 to $223.39 after Anthropic unveiled “Claude Code,” an AI tool built to tackle COBOL modernization. COBOL was written in 1959. It still runs roughly 95% of U.S. ATM transactions and sits at the core of major banks and government systems”

Technical Analysis of IBM Stock?

Per TipRanks IBM stock stats, the firm may now try its best to reclaim its lost spot, hinting at claiming $380 in the next 12 months.

IBM STATS
Source: TipRanks

“The average price target for International Business Machines is 337.53. This is based on 18 Wall Street analysts’ 12-month price targets, issued in the past 3 months. The highest analyst price target is $380.00, and the lowest forecast is $236.00. The average price target represents a 51.12% increase from the current price of $223.35.”

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  • Anthropic
  • US Stock
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