Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTSushree MohantySun, July 19, 2026 at 7:30 PM GMT+2 5 min readA corporate office for IBM by HJBC via Adobe StockLegacy tech giants like International Business Machines (IBM) rarely generate any dramatic market reactions. However, its preliminary Q2 results triggered a sharp selloff, with IBM shares down roughly 26% in the last five days and 28% year-to-date (YTD), underperforming the overall market.IBM traces its roots back to 1911. As a tech dinosaur, IBM has spent decades not going extinct. The company has worked hard to reshape itself from a legacy hardware company into one driven by software, consulting, and AI-powered enterprise solutions. So, it is natural for investors to react negatively when software growth slows down, as reported in its preliminary Q2 results on July 14.More News from Barchart