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IBM Stock Drops 13.5% on AI Concerns for Legacy COBOL Systems
Feb 24, 2026578

IBM Stock Drops 13.5% on AI Concerns for Legacy COBOL Systems

IBM shares plunged 13.5% as investors reacted to concerns about AI's potential impact on legacy COBOL systems, a core IBM domain. The article details the market move, IBM's response highlighting its AI and modernization tools, and analyst perspectives calling the sell-off excessive.