IBM Loses $31 Billion

IBM shares fell 13% on Monday, losing over $31 billion in market value. Analysts attribute this to increasing competition in the tech sector.

IBM lost more than $31 billion in market value on Monday after its shares fell 13% to $223.39.

This sharp decline occurred amid investor concerns about the company's future in the changing technology landscape. Analysts note that IBM faces growing competition in the cloud computing and artificial intelligence sectors.

The tech giant's shares continue to decline amid these concerns, causing unease among shareholders.

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