SAP has claimed the title of Europe's most valuable listed company after its shares rose 1.6%, increasing its market valuation to around €314 billion. This shift is largely attributed to investor enthusiasm for its cloud-based software offerings, which have spurred SAP’s growth. The company's sales are projected to grow by approximately 12% this year, making it a decade-high, driven by clients migrating from traditional servers to cloud solutions. This contrasts with challenges faced by other firms like ASML, which are struggling under stricter export policies and market uncertainties.
SAP's shares rose 1.6%, driven by investor optimism around their cloud software, boosting their valuation to €314 billion, overtaking Novo Nordisk.
SAP's sales are expected to grow by 12% this year, marking the highest annual growth rate in a decade, due to a successful shift to the cloud.
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