Anissa Gardizy
speaker
30 appearances
1 recordings
1 series
first heard Jul 2026
last heard 23 Jul
Anissa Gardizy’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
WSJ What’s News · Trump Administration Announces New Tariffs on Over 80 Countries · 23 Jul 2026
podcast
Investors believed IBM when they said that AI was a tailwind for them and that customers really needed to buy more mainframes so that they could do more AI.
But as we saw last quarter, that actually wasn't the case.
IBM's major problem in the second quarter was just how bad their earnings results were and the fact that it was a surprise to management.
Right at the end of June, IBM failed to close tens of deals that amounted to hundreds of millions in revenue.
The reason for that was those customers were spending on higher priority items like AI infrastructure, servers, and memory, and trying to get ahead of rising prices in another market.
And it surprised management that these deals didn't close.
CEO Arvind Krishna also said he thinks it surprised customers that they had to make these last-minute changes.
And so that is why the company came in way under expectations.
We had reported that it wasn't clear if IBM would even issue any new guidance.
But I think the range did instill some confidence.
And management was very specific that that 4% is on the low end of the range.
They're not shooting for 4%.
They're still shooting for 5%.
And they think that's pretty close to their original guidance.
IBM had kind of warned everyone for the worst of it, but their infrastructure business was down 7%.
And people already knew about that 7% number, but one interesting stat that they showed yesterday was that the mainframe part of that business was actually down 42%.
And I've spoke with a few people who were surprised at just how poorly the mainframe business did.
How important is the mainframe business to IBM overall?
It's extremely important to IBM's infrastructure story.
IBM is not a typical cloud provider like a Google Cloud or an Amazon Web Services, but they have a stronghold on the mainframe business.
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