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Benzinga

Salesforce shares slide 2.85% to $166.34 after IBM flags software and infrastructure weakness

AI Market Summary
IBM's preliminary Q2 miss and management's commentary on weakness in Z mainframe-linked software intensified concerns about softer enterprise software demand and potential AI-driven disruption. Given Salesforce's long-standing technical partnership with IBM, sentiment spillover hit CRM, with shares down ~2.85% and multiple firms trimming targets/ratings. Near-term market focus shifts to whether the slowdown is IBM-specific or a broader enterprise spending signal.
Impact level
● Medium
Affected assets
NCSKCRM2USD/USDT-0.54%
AI Insight · NCSKCRM2USD/USDTAI Insight
▼ Bearish
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IBM released preliminary second-quarter results showing revenue of $17.2 billion, below the $17.86 billion consensus estimate, as weakness in the Z mainframe business and related software weighed on performance. Investors also grew concerned that demand for enterprise AI software may be slowing, a risk amplified by Salesforce’s 24-year partnership with IBM that includes AI platform integrations. Salesforce shares fell 2.85% to $166.34. Several firms also cut their ratings or price targets on the stock.
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