SAP shares hit 17-month low as AI-driven selloff burns $130 billion

Danilo Masoni

Wed, January 21, 2026 astatine 8:37 AM CST 1 min read

By Danilo Masoni

MILAN, Jan 21 (Reuters) - Shares successful Germany's SAP extended a months-long downtrend connected Wednesday, falling to their lowest ​since August 2024 and bringing the nonaccomplishment successful marketplace worth ‌since past year's grounds precocious to astir $130 billion.

The diminution is portion of a broader ‌selloff that has deed bundle stocks successful Europe and connected Wall Street connected the backmost of increasing fears of AI disruption, adjacent though astir analysts stay upbeat connected Europe's largest bundle group.

By 1334 GMT, the ⁠stock was down 2.4% successful ‌Frankfurt, valuing SAP astatine astir 233 cardinal euros ($273 billion), compared with 344 cardinal euros astatine its beingness precocious ‍in February 2025. "Some of the concerns successful the marketplace are justified, not astir the company's existential future, but astir the worth of its services," said ​Banor SIM portfolio manager Angelo Meda, adding that it was important ‌for SAP to accelerate its unreality transition.

"With AI, galore modules tin go easier to make and replicate, truthful the hazard is that the mean selling terms of services and billable hours falls," helium added.

SAP successful October forecast full-year unreality gross astatine the little extremity of its ⁠outlook range, though operating nett was expected ​toward the precocious end. The institution reports ​results adjacent week. "Software sentiment has seldom been lower," Jefferies expert Brent Thill wrote successful a enactment connected Monday, adding ‍that SAP's valuation ⁠was present approaching its humanities trough.

One Frankfurt‑based trader said immoderate clients were taking agelong positions up of adjacent week's results, but ⁠added that charts were inactive flashing caller "sell signals". The S&P 500 bundle scale ‌has mislaid 7.2% truthful acold successful 2026.

($1 = 0.8522 euros)

(Reporting by ‌Danilo Masoni; Editing by Amanda Cooper)