I think I've seen 2 initiatives to move off of AS/400 to a something else in my lifetime and neither one completed. One was at a bank another at an insurance company. Not to mention that a typical COBOL programmer is more interested in retiring than learning to vibe code. At this point I think the software stocks have reached peak panic and hysteria. There is just no rhyme or reason for sharp declines like this.

I've seen a successful one where COBOL was converted to ".Net" and heard they were applying the same process to another client a few years ago.

I think this is a game changer for trying to migrate secondary services like tools or batch jobs

It does seem like a good time to buy IBM stock.

Yeah it’s exhausting. Part of me wants the bubble to pop but another part realizes a lot of my stock is now tied up in it lol