IBM stock plunges 23% after disappointing Q2 results, worst drop since 1987
International Business Machines (IBM) saw its stock tumble 23% on Tuesday, marking its steepest single-day decline since October 19, 1987, when shares fell 23.7%. The selloff came after the tech giant released preliminary second-quarter results that missed Wall Street’s estimates on both earnings and revenue. According to FactSet data, IBM reported adjusted earnings of $2.93…