Anthropic just dropped an AI tool for COBOL and IBM stock fell 13%

COBOL is a decades-old programming language that still runs about 95% of ATM transactions in the US and powers critical systems across banking, aviation and government, but barely anyone knows how to code in it anymore, which makes maintaining these systems expensive. Anthropic's new AI tool claims it can analyze massive COBOL codebases, flag risks that would take human analysts months to find, and dramatically cut modernization costs. The market read this as a direct threat to IBM, which makes a significant chunk of revenue helping enterprises manage and migrate exactly these kinds of legacy systems. That said, some analysts have pointed out that migration alternatives have existed for years and enterprises have largely stayed on IBM anyway, so the 13% drop may be overdone. Niche sectors like embedded, mainframe, banking, etc were thought to be a bit more safer than mainstream SWE. But looks like that's not the case anymore. Thoughts on this?