International Business Machines Corporation ( IBM ) Survived One AI Scare in February . This One Might Be Different .

International Business Machines Corporation (NYSE:IBM)‘s stock dropped 25% on July 14. That’s the worst single day for the stock since records began in 1968, even worse than its previous record drop on October 19, 1987. By the end of the week, IBM’s total value was just under $200 billion. The drop happened because IBM warned that its second-quarter results would come in weak. The firm said it earned $2.93 per share on $17.2 billion in revenue. Wall Street had expected $3.01 per share and $17.86 billion in revenue, according to FactSet. CEO Arvind Krishna explained why in a letter…