IBM stock collapses by -20%. A statement on changed customer buying patterns initiates the next SaaSocalypse.

Preliminary quarterly figures and changing customer buying patterns weigh on IBM. The stock falls by 20%. Revenue missed expectations with $17.2 billion compared to $17.85 billion, while the EPS at $2.93 also fell short of the consensus estimate of $3.02. Despite operational weaknesses in the traditional mainframe business, the tech giant ignites the next growth phase with new billion-dollar initiatives in quantum and open-source security.   Why the numbers are disappointing The tech giant IBM has caught Wall Street off guard with...