International Business Machines (NYSE: IBM) is traded at $229.32 as of February 24, 2026, while the average analyst price target sits at $324.95. That is a gap of roughly 41.7% between where the stock trades and where Wall Street thinks it belongs.

Investors wiped $40 billion from IBM's market cap after Anthropic released COBOL translation tools. Analysts say the market got the news right and the conclusion wrong.

IBM faces a reassessment of its artificial intelligence risk after the release of Anthropic’s Claude Code tool triggered its worst trading day in more than 25 years, according to Morgan Stanley.

International Business Machines Corp (NYSE: IBM) shares are rebounding Tuesday morning after plunging more than 13% Monday, when fears about artificial-intelligence disruption hammered the legacy tech giant.

A blog post from Anthropic caused IBM's market value to drop over $30 billion due to concerns about COBOL. Here's everything you need to know about COBOL and the now viral blog from Anthropic

Investors reacted to Anthropic’s assertion that Claude Code could streamline legacy COBOL modernization, raising concerns about pressure on IBM’s high‑margin mainframe services despite longstanding competition in the space.

IBM shares plunged over 13% after AI startup Anthropic announced a tool to modernize COBOL, a key IBM programming language.

As of Tuesday's close, International Business Machines Inc. IBM is down 25% month-to-date — putting the stock on pace for its worst month since December 1992. That's worse than October 2018's 23% decline.