By Danilo Masoni MILAN, Jan 21 (Reuters) - Shares in Germany's SAP extended a months-long downtrend on Wednesday, falling to their lowest ​since August 2024 and bringing the loss in market value ‌since last year's record high to around $130 billion. The decline is part of a broader ‌selloff that has hit software stocks in Europe and on Wall Street on the back of growing fears of AI disruption, even though most analysts remain upbeat on Europe's largest software group. By 1334 GMT, the ⁠stock was down 2 ...

Core Viewpoint - Shares in Germany's SAP have continued a months-long downtrend, reaching their lowest point since August 2024, with a total market value loss of approximately $130 billion since last year's record high [1] Group 1 - SAP's stock price decline has been significant, indicating ongoing challenges for the company [1] - The current market value loss reflects a substantial decrease from previous highs, highlighting investor concerns [1]

Summary of Global Software Conference Call Industry Overview - The software industry is experiencing a significant shift in focus from macroeconomic concerns to the disruptive rise of AI, with investor discussions centered around whether an AI bubble exists and the potential impact of AI on enterprise software [1][11][15]. Key Themes for 2026 - **Valuation Reset**: Software valuations have halved over the past year, creating opportunities for investors to acquire high-quality stocks at discounted prices [14][31]. - **IT Spending Outlook**: Recent CIO surveys indicate one of the strongest IT spending outlooks since 2018, with expectations for a stable macro environment and lower interest rates supporting demand, particularly among small and medium-sized businesses (SMBs) [3][13][23]. - **Generative AI Impact**: While Generative AI is a major topic, its actual revenue impact on software companies is still limited. Most companies are not yet seeing significant revenue from AI, and the focus is shifting towards company-specific opportunities [6][15][19]. Company Recommendations - **Buy Recommendations**: - **Oracle (ORCL)**: Strong core business with significant cloud transition and market share gains in IaaS/PaaS, driven by unique offerings [4][27]. - **Microsoft (MSFT)**: Durable business with multiple growth levers and a reset valuation, positioned well for AI monetization [4][27]. - **SAP (SAP)**: Consistent double-digit revenue growth and margin improvement, despite AI cycle noise [4][27]. - **HubSpot (HUBS)**: Attractive entry point with strong SMB market positioning and potential benefits from AI adoption [4][27]. - **Cautionary Recommendations**: - **Salesforce (CRM)**: Concerns over underperformance and potential reliance on acquisitions to drive growth [4][29]. - **Snowflake (SNOW)**: Long-term growth concerns due to market saturation and competitive pressures [4][30]. - **Workday (WDAY)**: Growth deceleration and investor skepticism regarding AI's impact on its business model [4][28]. Financial Metrics - **Valuation Comparisons**: - Adobe (ADBE): Adjusted P/E ratios have decreased significantly, with a current valuation of 12.0x for 2026E [5][32]. - Microsoft (MSFT): Current P/E at 27.5x for 2026E, reflecting a reset from previous highs [5][32]. - Oracle (ORCL): Trading at a 0.9x PEG ratio, down from 1.4x a year ago, indicating a significant valuation adjustment [32]. Macro Considerations - **Economic Environment**: The macroeconomic landscape is expected to stabilize, with potential benefits from deregulation and tax cuts in the U.S. impacting SMB spending positively [6][23]. - **AI Adoption Timeline**: Enterprise adoption of AI is anticipated to take longer than expected, with significant visibility likely not occurring until 2027 or 2028 [22][23]. Conclusion - The software sector is at a pivotal moment, with significant valuation resets providing investment opportunities. However, the actual impact of AI on revenue generation remains uncertain, necessitating a cautious approach to investment in this space. The focus should be on companies with strong fundamentals and clear growth trajectories amidst the evolving landscape of AI and macroeconomic conditions [1][14][19].

It has been a strong year-plus for European equities, but not all names have participated in the big bull run. SAP SE ( SAP ) is down 10% over the past 12 months, badly lagging the Vanguard FTSEFreelance Financial Writer | Investments | Markets | Personal Finance | RetirementI create written content used in various formats including articles, blogs, emails, and social media for financial advisors and investment firms in a cost-efficient way. My passion is putting a narrative to financial data. Working with ...

Group 1 - European equities have experienced a strong performance over the past year, but not all companies have benefited equally, with SAP SE down 10% in the last 12 months [1] - SAP SE's performance has significantly lagged behind the Vanguard FTSE, indicating potential challenges for the company in the current market environment [1]

I wouldn't want to be on the wrong side of one of the biggest mega cycles in stock market history, which is why I don't envy SAP ( SAP ) and its software peers.I aim to invest in companies with perfect qualitative attributes, buy them at an attractive price based on fundamentals, and hold them forever. I hope to publish articles covering such companies approximately 3 times per week, with extensive quarterly follow-ups and constant updates.I manage a concentrated portfolio targeted at avoiding losers and ma ...

Market Overview - The global Cognitive Analytics Market was valued at USD 7.90 billion in 2025 and is projected to reach USD 81.46 billion by 2033, with a CAGR of 33.99% from 2026 to 2033 [1] - The U.S. Cognitive Analytics Market was valued at USD 2.17 billion in 2025 and is expected to grow to USD 22.03 billion by 2033, with a CAGR of 33.61% from 2026 to 2033 [3] Growth Drivers - The market is expanding due to increasing demand for data-driven decision-making, real-time insights, and the growing acceptance of AI and machine learning across various industries [1][3] - Factors contributing to the U.S. market growth include high AI adoption, advanced digital infrastructure, robust business expenditures, and cloud integration [3] Segmentation Analysis By Enterprise Type - Large Enterprises held a 61% market share in 2025, driven by large data volumes and complex business processes, while small and medium enterprises are expected to grow the fastest from 2026 to 2033 due to lower entry barriers from cloud-based solutions [4] By Application - Customer Management accounted for 31% of the market share in 2025, focusing on enhancing customer experience and retention, while Fraud Detection and Security is anticipated to grow the fastest from 2026 to 2033 due to increasing cyber threats [5] By End-User - The BFSI sector dominated with a 28% share in 2025, relying heavily on advanced analytics for fraud prevention and risk assessment, while Retail is expected to experience the fastest growth from 2026 to 2033 as companies leverage cognitive analytics for demand forecasting and personalized promotions [6][7] By Deployment - Cloud deployment led with a 64% market share in 2025 and is projected to grow at the fastest rate from 2026 to 2033, attributed to its scalability and cost efficiency [8] Regional Insights - North America held the largest revenue share of approximately 38% in 2025, benefiting from early AI adoption and a strong presence of major technology providers [9] - The Asia Pacific region is expected to grow at the fastest CAGR of about 15.22% from 2026 to 2033, driven by rapid digital transformation and increasing AI investments [10] Market Trends - There is a rising enterprise focus on data-driven decision-making using AI-powered insights, which enhances operational efficiency and competitive advantage through real-time analysis of consumer behavior and market trends [11] Key Players - Major companies in the cognitive analytics market include Google LLC, Oracle Corporation, IBM Corporation, Microsoft Corporation, and Amazon Web Services, among others [13]

MONTRÉAL, Jan. 15, 2026 (GLOBE NEWSWIRE) -- Saputo will release its fiscal 2026 third quarter results on Thursday, February 5, 2026. A press release will be issued after markets close, and a conference call is scheduled on Friday, February 6, 2026, at 8:30 a.m. (Eastern Time) to discuss the Company’s results. The speakers will be Mr. Carl Colizza, President and CEO, and Mr. Maxime Therrien, CFO and Secretary. To participate: Webcast: A live webcast of the event can be accessed using this link.Presentation s ...

Core Insights - SAP SE and Syngenta have entered into a multi-year strategic technology partnership aimed at enhancing AI-assisted innovation within Syngenta's global operations [1] - The partnership will integrate artificial intelligence into the core of Syngenta's enterprise, focusing on modernizing operations and fostering accelerated innovation through advanced data analytics [1] Company Overview - Syngenta is recognized as a global leader in agricultural innovation, indicating its significant role in the agricultural sector [1] - The collaboration with SAP SE highlights Syngenta's commitment to leveraging technology for operational improvements and innovation [1] Technology Focus - The partnership emphasizes the embedding of artificial intelligence across various business functions, including manufacturing and supply chain operations [1] - Advanced data analytics will be a key component of this initiative, suggesting a shift towards data-driven decision-making within Syngenta [1]

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the **AI-native software industry**, particularly in the **core finance** and **Customer Relationship Management (CRM)** sectors, which are poised for disruption by new entrants targeting a **$30 trillion** global wage pool [1][4][12][14]. Core Insights - **AI Agents** are expected to automate significant portions of white-collar work, leading to a shift in spending from traditional software and human labor to companies that provide AI solutions [1][14]. - **C.H. Robinson**, a logistics company with **$18 billion** in revenue, has successfully implemented over **30 AI agents**, resulting in productivity improvements of over **40%** and significant operational efficiencies [5][15]. - **SAP** is identified as well-positioned to capitalize on the AI agent trend due to its established customer base and comprehensive application portfolio [1][16]. New Entrants in Core Finance - Several **AI-native startups** are emerging in the core finance space, including: - **Rillet**: Raised over **$100 million** and valued at approximately **$500 million**. It aims to modernize finance operations by automating key workflows and reducing reliance on traditional ERP systems [4][59][60]. - **Campfire**: Also raised over **$100 million** since its founding in 2023, focusing on enabling CFOs to achieve a zero-day close [4]. - **Digits**: Another notable entrant in the finance sector, emphasizing automation and efficiency [4]. CRM Sector Developments - In the CRM space, new entrants like **Sierra** and **Decagon** are gaining traction, with Sierra achieving a valuation of **$10 billion** and significant annual recurring revenue (ARR) growth [4]. Competitive Landscape - The core finance software market is currently dominated by incumbents such as **SAP**, **Oracle**, **Microsoft**, and **Salesforce**, which maintain strong competitive advantages through established customer relationships and comprehensive solutions [12][43]. - Despite the strong position of incumbents, the emergence of agile, AI-native startups presents a potential competitive threat, particularly in niche areas of financial management [51][55]. Financial Performance and ROI - C.H. Robinson's implementation of AI agents has led to a rise in operating income guidance from **$220 million** to **$336 million**, showcasing the tangible benefits of AI integration [5][15]. - The report highlights that AI agents can significantly reduce manual tasks, with C.H. Robinson saving over **600 hours per day** through automation [5][15]. Evolving Pricing Models - The industry is transitioning from traditional subscription models to more usage- and outcome-based pricing structures, reflecting the value delivered by AI-driven automation [17]. Conclusion - The rise of AI-native entrants in the core finance and CRM sectors indicates a significant shift in the software landscape, with established players needing to adapt to maintain their market positions. The potential for increased productivity and efficiency through AI agents presents both opportunities and challenges for companies across various industries [12][14][51].