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The SAP SAP Software Gigant has overcome Danish drug manufacturer Novo Nordisk to become the most respected company in Europe, in the last turning point for the German Stock Exchange.
Juice The shares increased by 0.8 percent on Monday, increasing their market capitalization to more than 312 billion euros, just above that of Novi Nordisk, whose shares fell by 2 percent.
SAP sections have increased more than 40 percent last year, as investors welcomed the change of their business customers to the cloud and while the group rode a wave of enthusiasm for artificial intelligence. SAP gains helped power a Rally at the Frankfurt Blue Chip Dax Index Because of this, he outweighed most of the world’s major shares.
Novo Nordisk has lost half of his market value since last summer, as he struggles to convince investors that he has a great monitoring of his GLP-1 obesity drug.
“The new one has been a hot stock in the past, but what we see now is that Hype has demolished. At the same time, SAP has a lot of benefits from the influx of German shares,” said Emmanuel Cau, an analyst from Barclays.
SAP last year replaced the Dutch manufacturer of the ASM semiconductor equipmentL As Europe’s largest technological company.
With the headquarters in the city of Walldorf in southwestern Germany, SAP now makes the German index a higher share of the historic car sector in the country, which includes Volkswagen and Mercedes-Benz.
SAP -This weighting in DAX has repeatedly violated a 15 -long limit, which encouraged Deutsche Börs to introduce a new non -smoked version of the Index last month.
Founded by five former IBM employees in 1972, SAP has reached progress in recent years in transferring its model from the sale of local software licenses under cloud services contracts, which is more predictable and lucrative.
Analysts expect SAP’s revenue from clouds this year to increase 29 percent, while the total revenue is predicted to increase 13 percent to 38.5 billion euros.
Analysts also highlighted the potential of a new product that SAP introduced last month, which allows customers to connect their information with third party data and analyze them through AI drives of agents.
Although the company’s shares were reduced by about 10 percent compared to last month all the time, its rivals fell sharper for the most respected company.
Novo Nordisk, which has been through the last two years with the French luxury group of LVMH for the first place in Europe, has published the second set this month worse than expected Results of experiment for Cagrisema, potential treatment for heirs to Oskempic and Wegovy.
Novo’s uncertain pipeline for the product complicated the story of success that saw the sale of its existing Obesity drugs More than 50 percent last year.
