2 Reasons IBM's COBOL Fears Are Overblown
International Business Machines (NYSE: IBM) shares took a 13% nosedive on Feb. 23, their worst single-day drop in over 25 years. The culprit? Fears that Anthropic's Claude Code AI would make COBOL modernization so fast and cheap that IBM's mainframe cash cow would dry up practically overnight.
For the curious, here's a simple "Hello World" program in COBOL:
[hello.cbl]
Source Fool.com
International Business Machines Corp Stock
€205.25
-2.410%
The stock is one of the favorites of our community with 30 Buy predictions and 4 Sell predictions.
With a target price of 269 € there is a positive potential of 31.06% for International Business Machines Corp compared to the current price of 205.25 €.
