IBM's warning causes 11% fall in share price

IBM's warning, issued on Monday, caused an 11% fall in its share price and a decline in the price of other technology stocks on fears about a delay in the sector's recovery.

The company said that it expected to earn 66 cents to 70 cents per share for the quarter ended 31st March, as compared with the 85 cents expected by analysts. For Q1, 2001 IBM earned 98 cents a share.