SAP has emerged as Europe's most valuable company with a market cap of €313 billion, overtaking Novo Nordisk. This rise is attributed to the increasing demand for SAP's AI-driven enterprise resource planning software, with shares climbing over 40% in the past year. In contrast, Novo's stock has been hampered by disappointing expectations around their new weight loss drug, leading to a significant drop in shares. Meanwhile, ASML, previously a market leader, has experienced a recent stock decline due to lower-than-expected orders, impacting the semiconductor market overall.
SAP's rise marks a significant shift in the European market, driven by the growing demand for its AI-based ERP software, surpassing Novo Nordisk.
The strong performance of SAP, increasing over 40% in one year, highlights the shift towards cloud-based solutions while Novo's new therapies fail to impress investors.
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