SAP (SAP.DE) fell by almost 5% to their lowest level since April due to a general weakening of software stocks. Although the specific reason for these declines is unknown, concerns about competition based on artificial intelligence, especially from US companies, may be a key factor for some investors.
At this point, however, Wall Street analysts are not changing their stance on the company. Based on the assessment of 38 analysts, as many as 26 of them recommend buying the company's shares. At the same time, 5 recommend a neutral stance and 3 recommend selling.
SAP shares are currently among the worst performing stocks in Germany, despite the lack of specific corporate information. Source: xStation
SAP has broken below the 200-day EMA (gold curve on the chart) for the first time since April this year, thus breaking the previous long-term upward trend. The dynamics of today's declines exceed three standard deviations of the average range of movements over the last five years. Source: xStation
Daily Summary: CPI down, Markets Up
Procter & Gamble: After Earnings
"Mad Max" mode - Is Tesla in trouble?
Intel’s turnaround is showing results