Siemens Overtakes SAP as Germany’s Largest Firm by Market Value
The Siemens AG headquarters in Munich.
Photographer: Michaela Handrek-Rehle/BloombergSiemens AG became Germany’s largest company by market value, overtaking SAP SE after the software firm’s shares plunged following a disappointing sales outlook.
SAP sank as much as 17% on Thursday, cutting the company’s market capitalization to €199 billion ($241 billion). The firm’s quarterly trading update fueled concern around the impact of artificial intelligence tools on the enterprise-software industry.