The German software company SAP is pushing the Dutch ASML from the throne as Europe's highest valued technology company, reports Financial Times. A price increase following a report with increased revenues from cloud services and a raised forecast for the full year contributes to SAP's advancement.
The SAP share rises 3.6 percent on the Frankfurt Stock Exchange after the report, which gives a market value of 272 billion euros (corresponding to 3,100 billion kronor). ASML, a major manufacturer of equipment for semiconductor factories, has a market value of 265 billion euros at the same time.
However, there is still a way to go to reach number one among the technology giants in the USA. Right now, iPhone manufacturer Apple sits on the throne, with a market value of just over twelve times SAP's value: 3,595 billion dollars (corresponding to 37,900 billion kronor).
