IBM hits 1968 low, analyst sees 60% upside ahead

IBM has just completed its worst single-week collapse in over five decades, with the stock dropping sharply enough to draw comparisons to the 1968 market crash. The selloff has prompted significant reassessment across the Street, yet analyst Dan Ives has refused to lower his price target—instead maintaining a level that implies more than 60% upside from current prices. This contrarian stance suggests Ives sees value in IBM's enterprise AI positioning that the broader market is overlooking, potentially reshaping how investors view the entire enterprise AI trade going forward.

IBM's sharp decline marks a historic moment for the stock—the worst week since 1968—yet it has attracted a contrarian bet from analyst Dan Ives. The gap between the market's pessimism and Ives's confidence suggests a fundamental disagreement about where enterprise AI value lies. Ives's willingness to maintain a bullish target in the face of such severe selling indicates he believes the selloff has overshot fair value and that IBM retains meaningful advantages in the enterprise segment that sellers are currently discounting.