The German software developer is protected from European economic problems thanks to the large -scale market in the United States, which is the largest for SAP.
German software developer Sap Se became the most expensive public company in Europe, which reached a Danish manufacturer of drugs for weight loss Novo Nordisk A/s. Bloomberg reported this on Monday, March 24.
Up to 10:57 AM in Frankfurt, SAP shares rose 0.9%, estimating the company to nearly 312 billion euros ($ 338 billion). He was allowed to go around the Novo Nordisk, whose shares this year fell 18% due to failure to test the test results of a new drug for weight loss cagissema.
Last year, SAP shares rose 40%, as company CEO Christian Klein accelerated the transfer of customers from traditional servers to cloud technologies. This process allows the company to sell more profitable products with additional artificial intelligence functioning, which contributes to income growth.
“This SAP boasts that it has become the most important company in Europe, emphasizing the important role of technologies in ensuring Europe’s competitiveness in the global arena,” said the company representative.
He added that investments in cloud technologies, artificial intelligence and innovations confirmed the promise of digital transformation and long -term growth for business worldwide.
Analysts expect SAP sales to grow by 12% this year, which will be the fastest annual growth in the last decade. The operating profit should also be increased due to the repair announced in January 2024.
The company is also protected from European economic problems due to the large -scale market in the United States, which is the largest for SAP. In the fourth quarter, the company gained € 2.9 billion in the United States, with about 31% of total income.
Since the end of 2022, SAP has made the biggest contribution to the growth of the Stoxx 600 reference index of 30%. Shares grew more than 150% during this period and caused about 8% of index growth.
The Novo Nordisk has lost its market leadership after its shares of its 50% shares from June, and on Monday received another punch after a reduction in recommendation from analysts.
Keep in mind that the Chinese Deepseek company has released a free chat bout, which has caused panic to investors in Silicon Valley and avoiding American ChatGPT in many trials to think.
The sales of the world of chips reach a note
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.