IBM (NYSE: IBM) shares are rebounding Tuesday after plunging more than 13% Monday following concerns about AI disruption. The sell-off came after Anthropic promoted its Claude Code AI assistant, which claims it can modernize large COBOL codebases — the same legacy systems that IBM has long serviced across banking and government infrastructure. Key points: • IBM fell more than 13% Monday • Claude Code targets COBOL modernization • IBM earns steady revenue from legacy mainframe systems • Stock is trading below 100-day and 200-day moving averages • RSI suggests oversold conditions • Analysts maintain a Buy consensus with average price target near $319 The volatility highlights the broader question facing legacy tech incumbents: will AI erode their profit pools, or power their next growth phase? #IBM #AI #StockNews 🖥️ Try Benzinga Pro FREE with a 14 day trial: benzinga.com/pro/register 📈 Take your trading to the next level with our suite of premium research services and...