SHARE

IBM, Apple Fuel Slowdown Fears

An earnings and revenue disappointment from IBM coupled with slowing growth from Apple renewed fears of an economic slowdown on Thursday. Shares of Apple fell 9% Thursday despite stellar results, as investors fretted about the company’s prediction of flat sequential growth in the current quarter and a 13% jump in the company’s shares due to […]

Written By

Paul Shread

Apr 15, 2005

Datamation content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More

An earnings and revenue disappointment from IBM coupled with slowing growth from Apple renewed fears of an economic slowdown on Thursday.

Shares of Apple fell 9% Thursday despite stellar results, as investors fretted about the company’s prediction of flat sequential growth in the current quarter and a 13% jump in the company’s shares due to options, which will dilute earnings.

IBM added to the slowdown fears after the close with results that came in well below estimates. IBM’s earnings of 85 cents a share and revenues of $22.9 billion missed Wall Street forecasts of 90-cent earnings and $23.65 billion revenues. IBM released its results two days early, citing a slowdown toward the end of the quarter. IBM shares fell 4% after hours.

Also after the close, Rambus and Sun also missed estimates, and RF Micro warned.

Stocks fell sharply once again on Thursday, skidding to new lows on the year.

The Nasdaq fell 27 to 1946, the S&P 500 lost 11 to 1162, and the Dow plunged 125 to 10,278. Volume rose to 2.35 billion shares on the NYSE, and 1.93 billion on the Nasdaq. Decliners led 25-7 on the NYSE, and 23-7 on the Nasdaq. Downside volume was 81% on the NYSE, and 81% on the Nasdaq. New highs-new lows were 18-118 on the NYSE, and 24-160 on the Nasdaq.

AMD fell 4.7% after the company posted an unexpected loss and announced plans to spin off its flash unit.

Infosys and JDA Software fell on warnings.

Systemax soared 23% on its results.

Huawei’s AI Update: Things Are Moving Faster Than We Think

FEATURE | By Rob Enderle,
December 04, 2020
Keeping Machine Learning Algorithms Honest in the ‘Ethics-First’ Era

ARTIFICIAL INTELLIGENCE | By Guest Author,
November 18, 2020
Key Trends in Chatbots and RPA

FEATURE | By Guest Author,
November 10, 2020
Top 10 AIOps Companies

FEATURE | By Samuel Greengard,
November 05, 2020
What is Text Analysis?

ARTIFICIAL INTELLIGENCE | By Guest Author,
November 02, 2020
How Intel’s Work With Autonomous Cars Could Redefine General Purpose AI

ARTIFICIAL INTELLIGENCE | By Rob Enderle,
October 29, 2020
Dell Technologies World: Weaving Together Human And Machine Interaction For AI And Robotics

ARTIFICIAL INTELLIGENCE | By Rob Enderle,
October 23, 2020
The Super Moderator, or How IBM Project Debater Could Save Social Media

FEATURE | By Rob Enderle,
October 16, 2020
Top 10 Chatbot Platforms

FEATURE | By Cynthia Harvey,
October 07, 2020
Finding a Career Path in AI

ARTIFICIAL INTELLIGENCE | By Guest Author,
October 05, 2020
CIOs Discuss the Promise of AI and Data Science

FEATURE | By Guest Author,
September 25, 2020
Microsoft Is Building An AI Product That Could Predict The Future

FEATURE | By Rob Enderle,
September 25, 2020
Top 10 Machine Learning Companies 2020

FEATURE | By Cynthia Harvey,
September 22, 2020
NVIDIA and ARM: Massively Changing The AI Landscape

ARTIFICIAL INTELLIGENCE | By Rob Enderle,
September 18, 2020
Continuous Intelligence: Expert Discussion [Video and Podcast]

ARTIFICIAL INTELLIGENCE | By James Maguire,
September 14, 2020
Artificial Intelligence: Governance and Ethics [Video]

ARTIFICIAL INTELLIGENCE | By James Maguire,
September 13, 2020
IBM Watson At The US Open: Showcasing The Power Of A Mature Enterprise-Class AI

FEATURE | By Rob Enderle,
September 11, 2020
Artificial Intelligence: Perception vs. Reality

FEATURE | By James Maguire,
September 09, 2020
Anticipating The Coming Wave Of AI Enhanced PCs

FEATURE | By Rob Enderle,
September 05, 2020
The Critical Nature Of IBM’s NLP (Natural Language Processing) Effort

ARTIFICIAL INTELLIGENCE | By Rob Enderle,
August 14, 2020

SEE ALL
ARTICLES

Paul Shread

Paul Shread has covered nearly every aspect of enterprise technology in his 20+ years in IT journalism, including an award-winning series on software-defined data centers. He wrote a column on small business technology for Time.com, and covered financial markets for 10 years, from the dot-com boom and bust to the 2007-2009 financial crisis. He holds a market analyst certification.

IBM, Apple Fuel Slowdown Fears

Paul Shread

Recommended for you...

Company

Categories

IBM, Apple Fuel Slowdown Fears

RELATED NEWS AND ANALYSIS

Paul Shread

Recommended for you...

Company

Categories