By TMF Breakfast News
Publication Date: 2026-04-23 11:30:00
Breakfast News: IBM Hit by Inflation’s Long Shadow
April 23, 2026
| Wednesday’s Markets |
|---|
| S&P 500 7,138 (+1.05%) |
| Nasdaq 24,658 (+1.64%) |
| Dow 49,490 (+0.69%) |
| Bitcoin $78,887 (+5.00%) |
Source: Image created by Jester AI.
1. IBM Sinks as Geopolitics Weigh
IBM (IBM 1.49%) fell over 7% ahead of the market open despite quarterly results beating revenue and earnings estimates, as cautious guidance for the full year weighed on sentiment, something CEO Arvind Krishna blamed on broader geopolitical uncertainty.
- “A lot of consumer companies are my clients”: Krishna pointed out that higher inflation could see people spend less at companies such as Walmart (WMT +0.29%), which indirectly impacts IBM from reduced activity.
- “IBM’s consulting business will be both threatened and supported by more sophisticated AI tools”: In late February, TMF chief investment officer Andy Cross explained the Hidden Gems recommendation is under pressure from AI disruption, but “mainframes remain necessary…