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      <title>IBM Falls 25% on a 3.7% Revenue Miss: The Market Repriced the Story, Not the Quarter</title>
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      <pubDate>Thu, 16 Jul 2026 00:00:00 +0000</pubDate>
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      <description>&lt;p&gt;IBM closed down 25.2% at $217.07 on July 14, the steepest single-day decline in the company&amp;rsquo;s history and the worst drop in records that run back to 1968 — worse than the 23.7% collapse of October 1987. Roughly $67 billion in market value evaporated on a preliminary second-quarter print that missed revenue by 3.7%. That gap between the size of the miss and the size of the reaction is the entire story. The market did not sell a quarter. It repriced the forward earnings stream.&lt;/p&gt;</description>
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