By Keith Noonan
Publication Date: 2026-02-24 17:00:00
Key Points
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IBM stock fell roughly 13% in Monday’s trading in response to concerns that new AI tools could have a disruptive impact on the company.
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Anthropic is touting Claude Code’s ability to modernize COBOL code, and it’s possible the tech will create headwinds for IBM.
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IBM’s valuation multiples have been cut following a more-than 20% slide for the stock this year, but that doesn’t necessarily mean it’s cheap.
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IBM (NYSE: IBM) stock got hit hard in Monday’s trading as fears that artificial-intelligence (AI) technologies could disrupt the company’s common business-oriented language (COBOL) tech stack. The company’s share price fell more than 13% in the daily session, wiping roughly $31 billion off the legacy tech giant’s market capitalization.
After yesterday’s big sell-off, the stock is seeing a modest recovery. Shares were up 2.7% as of 3 p.m. ET. IBM stock is now down roughly 22% across this
