Why did IBM stock today fall so sharply on February 24?

The drop of about 13% followed news that Anthropic Claude Code can automate key parts of COBOL modernization. Investors worry that automation could shrink project scope, pricing, and services attach, pressuring a profit pool linked to mainframe services. With sentiment fragile, sellers moved first and asked questions later. We think upcoming earnings and client evidence will determine whether this reset sticks or moderates.

Does Anthropic Claude Code really threaten IBM’s mainframe services?

It threatens parts of the value chain, not the entire business. If automation reduces labor hours and complexity, some revenue per project may fall. However, regulated workloads still need governance, testing, integration, and support. IBM can compete by bundling automation into offerings, preserving attach and margins. The risk is real, which is why IBM stock today reacted, but execution and client choices will decide the scale.

Is IBM stock today attractive for German investors after the drop?

It depends on your horizon and risk tolerance. Valuation is reasonable with a near 3% dividend yield, but debt is elevated and trend momentum is weak. We would size positions carefully, look for stabilizing technicals, and seek evidence that European clients maintain services spend. If earnings on 22 April confirm backlog resilience and a credible automation strategy, the recovery case improves meaningfully.

Global Market Insights

IBM Stock Today: February 24 — Worst Day in 25 Years on AI Shock

ByHuzaifa Zahoor February 24, 2026February 24, 2026

IBM stock today is in sharp focus after a near 13% one-day slide on February 24, its worst session in 25 years. The trigger was Anthropic’s claim that Claude Code can automate key parts of COBOL modernization, a core profit area tied to mainframe services. For German investors, the shock raises questions about margins, client retention, and competitive positioning. We review the catalyst, implications for EU enterprises, valuation and technicals, and the key signals to watch next for IBM. Our goal is clear guidance without noise.