SAP reaches $340 billion market cap, leading European companies
The rise of SAP highlights the growing impact of the tech sector in Europe.
German software company SAP has become Europe’s largest firm by market capitalisation, surpassing Danish healthcare giant Novo Nordisk.
SAP’s market value stood at $340 billion on Monday, edging ahead of Novo Nordisk, according to Reuters calculations using LSEG Workspace data.
Novo Nordisk, known for its dominance in the diabetes and weight-loss drug market, had held the top spot for some time.
The rise of SAP reflects the growing influence of the European tech sector, with the company benefiting from strong demand for its enterprise software and cloud-based services.
SAP’s achievement marks a significant moment for the region’s corporate landscape, signalling the increasing importance of technology firms in the European economy.
The shift in rankings highlights the evolving competition between industries as technology continues to drive market growth.
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