Infosys and Wipro's American Depositary Receipts (ADRs) dropped up to 8% following IBM's pre-market share plunge of 23% after missing earnings estimates and flagging a client shift toward AI. The decline reflects heightened market sensitivity to tech sector earnings and AI-driven strategic changes. Investors are reacting to IBM's warning about reduced demand for traditional IT services as clients pivot to AI solutions. This underscores broader volatility in global tech stocks linked to corporate earnings and AI adoption trends.
Infosys and Wipro's American Depositary Receipts (ADRs) dropped up to 8% following IBM's pre-market share plunge of 23% after missing earnings estimates and flagging a client shift toward AI. The decline reflects heightened market sensitivity to tech sector earnings and AI-driven strategic changes. Investors are reacting to IBM's warning about reduced demand for traditional IT services as clients pivot to AI solutions. This underscores broader volatility in global tech stocks linked to corporate earnings and AI adoption trends.