IBM shares led the Dow down 1.4% after a tech selloff triggered by Broadcom’s weak guidance and stronger-than-expected May payrolls lifted Treasury yields. A former cybersecurity executive alleges IBM concealed three foreign-government data breaches over the past decade while its quantum spin-off Quantinuum trades below its offer price.
IBM shares led the Dow down 1.4% after Broadcom’s weak guidance triggered a tech selloff and stronger-than-expected May nonfarm payrolls lifted Treasury yields, heightening interest rate concerns and weighing on market sentiment.
A former IBM cybersecurity executive claims the company suffered three hacks by foreign governments over the past decade and deliberately concealed those breaches from investors and clients, raising questions about its security disclosures.
IBM’s quantum computing spin-off Quantinuum opened trading below its offer price after the separation, reflecting investor skepticism over its near-term revenue prospects and valuing the business below expectations.
An opinion piece argues that IBM’s long-term commitment to quantum computing remains a competitive advantage despite short-term valuation challenges, highlighting its research investments and technology leadership in the field.
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