IBM shares plunged 25.21% in the US market on July 15, 2026, marking the company's biggest single-day decline since at least 1968 and wiping out nearly $70 billion in market capitalisation. The historic selloff was triggered by IBM's weaker-than-expected preliminary Q2 2026 results, with revenue of $17.2 billion and adjusted EPS of $2.93, both falling short of Wall Street expectations. Revenue missed estimates of $17.9 billion, while EPS came in below the expected $3.01. During the quarter, software revenue increased 5% year-on-year, consulting revenue remained flat, and infrastructure revenue declined by 7%. IBM Chairman and CEO Arvind Krishna acknowledged the company 'did not adapt and move quickly enough' as enterprise customers shifted technology spending towards artificial intelligence infrastructure.
The weakness in IBM significantly impacted global technology stocks, with Infosys and Wipro ADRs declining 4% and 3%, respectively, while shares of Accenture, Salesforce, Microsoft, Cognizant and Autodesk also traded lower. Indian IT stocks came under pressure as investors turned cautious ahead of upcoming quarterly earnings amid concerns over global enterprise technology spending. The Nifty IT Index fell around 1.75% during the session, touching an intraday low of around 28,223.80, underperforming the broader market even as the Nifty 50 and Sensex gained around 0.5% each. The sell-off reflects investor concerns about potential impact on demand for technology services, with IBM's struggles highlighting broader challenges in the enterprise technology sector.
Despite the current market volatility, market experts Vaishali Parekh from PL Capital and Gaurang Shah from Geojit Financial Services maintain their comprehensive stock recommendations. According to the expert analysis, Infosys Ltd. (CMP: ₹1,080.90) received a Hold recommendation with potential upside to ₹1,200-1,300 levels and a stop loss at ₹1,000. Suzlon Energy Ltd. (CMP: ₹52.68) was also rated as Hold with support at ₹50 and potential targets of ₹57-58. Jio Financial Services Ltd. (CMP: ₹236.58) received a Hold and average recommendation, suggesting accumulation at current levels around ₹220-230.
Punjab National Bank (CMP: ₹105.91) received a Hold rating with experts recommending averaging at profitable exit levels. According to the analysis, the stock shows positive coverage despite being purchased at elevated levels. Inventurus Knowledge Solutions Ltd. (IKS) (CMP: ₹1,882.00) was recommended as a Buy with potential to reach ₹2,200 levels, citing strong category performance and long-term upward trend. Kalyan Jewellers India Ltd. (CMP: ₹546) was advised to book partial profits for short-term perspective.
The expert recommendations emphasize technical levels and risk management strategies across all stocks, particularly relevant as markets navigate current volatility. For Infosys, the potential upside of ₹1,200-1,300 represents significant growth potential from current levels, with experts noting that evertime the stock crosses ₹350, there is profit booking. Suzlon Energy showed technical support at ₹50 with clear resistance levels identified. The Jio Financial Services recommendation includes large accumulation happening in terms of delivery based buying at ₹220-230 levels to reduce investment cost. Experts noted that PNB maintains positive coverage despite elevated entry levels, while IKS benefits from strong sector performance with upward trend potential, and Kalyan Jewellers should be booked for partial profits in the short term.
