[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcioa28dc090":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcioa28dc090","美股IBM今天为什么大跌？","\u002Fdoc\u002Fdcioa28dc090","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">IBM\u003Cspan style=\"font-family: DengXian;\">二季度业绩遭遇冲击。公司披露，\u003C\u002Fspan>6\u003Cspan style=\"font-family: DengXian;\">月下旬客户资本支出方向急剧转变，部分预算从软件和主机领域骤然转向服务器、存储及内存等供应趋紧的硬件资源，导致多笔大额交易未能按期落地。受此拖累，二季度营收显著低于市场预期。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">首席执行官\u003C\u002Fspan>Arvind Krishna\u003Cspan style=\"font-family: DengXian;\">在周二致投资者的公开信中表示，二季度初步营收为\u003C\u002Fspan>172\u003Cspan style=\"font-family: DengXian;\">亿美元，较分析师普遍预期的约\u003C\u002Fspan>179\u003Cspan style=\"font-family: DengXian;\">亿美元低约\u003C\u002Fspan>4%\u003Cspan style=\"font-family: DengXian;\">。他坦言，公司未能及时捕捉客户采购节奏的变化，部分重要交易未能在季末前完成交割。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">消息发布后，\u003C\u002Fspan>IBM\u003Cspan style=\"font-family: DengXian;\">股价应声重挫，盘前跌幅一度超过\u003C\u002Fspan>20%\u003Cspan style=\"font-family: DengXian;\">，若延续至正式交易，有望创下自\u003C\u002Fspan>1987\u003Cspan style=\"font-family: DengXian;\">年“黑色星期一”以来最大单日跌幅。连锁反应随即蔓延至企业软件与云服务板块，埃森哲跌约\u003C\u002Fspan>6%\u003Cspan style=\"font-family: DengXian;\">，\u003C\u002Fspan>ServiceNow\u003Cspan style=\"font-family: DengXian;\">跌约\u003C\u002Fspan>4.5%\u003Cspan style=\"font-family: DengXian;\">，微软亦下滑近\u003C\u002Fspan>2%\u003Cspan style=\"font-family: DengXian;\">。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large;\">客户预算转向硬件采购，软件和主机业务承压\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Krishna\u003Cspan style=\"font-family: DengXian;\">表示，\u003C\u002Fspan>6\u003Cspan style=\"font-family: DengXian;\">月份最后几周，客户季度资本支出策略出现明显转变，部分企业为了应对未来价格上涨以及供应限制，开始优先采购服务器、存储和内存等基础设施硬件。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">这一变化直接影响\u003C\u002Fspan>IBM\u003Cspan style=\"font-family: DengXian;\">的软件和基础设施业务。公司初步数据显示，二季度软件收入同比增长\u003C\u002Fspan>5%\u003Cspan style=\"font-family: DengXian;\">，咨询业务基本持平（按固定汇率计算增长\u003C\u002Fspan>1%\u003Cspan style=\"font-family: DengXian;\">），但基础设施收入同比下降\u003C\u002Fspan>7%\u003Cspan style=\"font-family: DengXian;\">，明显弱于此前市场预期的全年低个位数下滑。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">IBM\u003Cspan style=\"font-family: DengXian;\">此前预计，\u003C\u002Fspan>z17\u003Cspan style=\"font-family: DengXian;\">大型机产品周期将成为基础设施业务的重要增长动力，但实际表现低于预期。\u003C\u002Fspan>Krishna\u003Cspan style=\"font-family: DengXian;\">表示，\u003C\u002Fspan>z\u003Cspan style=\"font-family: DengXian;\">平台及相关软件生态，尤其是交易处理软件销售疲软，是本季度业绩缺口的重要原因之一。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large;\">他强调，多笔大型交易延迟关闭是导致业绩不及预期的主要因素，而非客户需求消失。不过，市场仍将关注后续季度数据，以判断这些订单是否只是推迟，还是企业科技预算正在发生更深层次变化。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">z17\u003Cspan style=\"font-family: DengXian;\">开局不及预期，\u003C\u002Fspan>IBM\u003Cspan style=\"font-family: DengXian;\">基础设施转型承压\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">此次业绩波动对\u003C\u002Fspan>IBM\u003Cspan style=\"font-family: DengXian;\">而言尤为敏感。此前，公司将\u003C\u002Fspan>z17\u003Cspan style=\"font-family: DengXian;\">大型机发布视为近年来最重要的产品周期之一，并希望借此带动硬件、软件及服务生态增长。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">但二季度表现显示，企业客户在\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">基础设施投资热潮下，正重新调整\u003C\u002Fspan>IT\u003Cspan style=\"font-family: DengXian;\">预算分配。部分资金流向算力设备、存储和供应链资源，而传统企业软件及大型机相关投入受到挤压。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Krishna\u003Cspan style=\"font-family: DengXian;\">表示，公司此前已经预期供应链会对客户采购造成影响，但低估了客户资本支出重新排序的幅度。此外，近期快速变化的网络安全环境也分散了部分客户管理层注意力，影响采购决策。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">AI\u003Cspan style=\"font-family: DengXian;\">转型逻辑再遭市场审视\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">美股投资网获悉，过去几年，\u003C\u002Fspan>IBM\u003Cspan style=\"font-family: DengXian;\">一直试图摆脱传统硬件和大型机业务标签，通过收购\u003C\u002Fspan>Red Hat\u003Cspan style=\"font-family: DengXian;\">、\u003C\u002Fspan>HashiCorp\u003Cspan style=\"font-family: DengXian;\">和\u003C\u002Fspan>Confluent\u003Cspan style=\"font-family: DengXian;\">等公司，加速向企业软件和\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">基础设施服务商转型。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">公司此前强调，人工智能不会削弱\u003C\u002Fspan>IBM\u003Cspan style=\"font-family: DengXian;\">业务，反而会推动客户对其基础设施软件的需求增长，使企业能够更高效地连接和管理不同\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">模型。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">但此次业绩预警重新引发市场对企业科技支出结构的担忧。今年\u003C\u002Fspan>2\u003Cspan style=\"font-family: DengXian;\">月，\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">初创公司\u003C\u002Fspan>Anthropic\u003Cspan style=\"font-family: DengXian;\">推出可帮助现代化\u003C\u002Fspan>IBM\u003Cspan style=\"font-family: DengXian;\">大型机传统编程语言的工具后，\u003C\u002Fspan>IBM\u003Cspan style=\"font-family: DengXian;\">股价已受到冲击。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">此次二季度业绩低于预期，则进一步强化了市场疑虑：随着\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">基础设施建设进入高投入阶段，企业\u003C\u002Fspan>IT\u003Cspan style=\"font-family: DengXian;\">预算是否正在从成熟软件产品转向算力、存储等硬件资源。如果这一趋势持续，\u003C\u002Fspan>IBM\u003Cspan style=\"font-family: DengXian;\">的软件增长逻辑和\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">转型路径都将面临新的考验。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FI\u002FIBM\u002FIBM.jpg","2026-07-14T15:22:43","2026.07.14","2026\u002F07\u002F14",48743,[22],"IBM","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" target=\"_blank\" rel=\"noopener 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href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\">案例介绍：英伟达深度研究报告\u003C\u002Fa>\u003C\u002Fh2>\u003C\u002Fdiv>",[33,37],{"productId":34,"serviceName":35,"priceText":36},"prod_PPxdDdK87QaiLv","月付","$12.95美元",{"productId":38,"serviceName":39,"priceText":40},"prod_PPxeMs3bix1da5","年付","$149.00美元",[],{"links":43,"images":71,"summaryHtml":76,"aboutTitle":77,"aboutHtml":78,"copyrightHtml":79},[44,47,50,53,56,59,62,65,68],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fvip",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"AI智能体","\u002FAiAgent",{"label":60,"url":61},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":63,"url":64},"美股课程","\u002Fcol\u002Fvideos",{"label":66,"url":67},"免责声明","\u002Fdisclaimer",{"label":69,"url":70},"联系我们","\u002FContactUs",[72,73,74,75],"https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploaderzic2tuwsol2_2025_09_11_18_21_07.gif","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadercakzdvydksw_2025_09_03_09_00_56.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadergtjyagwvoyk_2025_09_14_08_32_05.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploader3u0tt4jhlqh_2025_09_23_22_30_48.png","邮箱: buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" target=\"_blank\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理海量股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，美股买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"edit":87,"editVideo":88,"courseContent":89,"more":90,"buyNow":91,"subscribeNow":92,"encoding":93,"paidContent":94},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]