IBM's Anthropic-induced sell-off overlooks the fact it's disrupting itself: Jefferies

IBM stock plunged on Claude Code COBOL fears, but Jefferies says IBM’s watsonx is already modernizing mainframes with GenAI—read more now.
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IBM business model at risk? Anthropic's Claude can modernise COBOL code; stocks fall 13%

IBM shares plunged 13% after Anthropic said its Claude Code can automate COBOL modernisation—threatening a core IBM mainframe and legacy IT services revenue stream tied to the ageing programming ...