IBM stock price rebounds after Anthropic’s COBOL claim rattles mainframe bulls
IBM shares climbed 4.8% to $234.08 Tuesday morning, rebounding after a 13.2% plunge Monday triggered by Anthropic’s claim that its Claude Code AI tool could help modernize COBOL on IBM mainframes. Analysts said banks and governments are unlikely to abandon IBM’s systems quickly. Investors now await IBM’s March 3 conference and April 22 earnings.