SAP WKN: 716460 ISIN: DE0007164600 Forum: Aktien Thema: Hauptdiskussion

so massiv ist der cashflow nicht. du musst es ja auf eine Aktie betrachtet sehen. Der Gewinn liegt noch nicht mal bei 10 Euro per share, die Dividende irgendwo im Bereich 1,x%

Der Vergleich hinkt gewaltig. SAP ist heute kein Zyklus-Hype wie 2000, sondern ein globaler Software-Standard mit hohen wiederkehrenden Umsätzen, steigenden Cloud-Margen und massivem Free Cashflow. Ein 10-Mrd.-Aktienrückkauf ist keine „Abflugbremse“, sondern erhöht strukturell den Gewinn je Aktie. Deutsche Telekom als Referenz zu nehmen, ist sachlich falsch: anderes Geschäftsmodell, andere Kapitalintensität, andere Marktmechanik. „Nie wieder 200 €“ ist Emotion, kein Bewertungsargument. Ein Kurs unter 120 € bis 2026 würde einen fundamentalen Einbruch voraussetzen, dafür gibt es aktuell keine belastbaren Anzeichen. Liefer Gründe oder Daten die annähernd einen Beweis liefern ansonsten leider nicht haltbar.

Enschuldigung: Zahlen von Salesforce nicht SAP.

Die Zahlen von SAP vom 25. Februar werden die weitere Entwicklung bestimmen.

Einfach irgendetwas ins Leere werfen. Wertlos.

Und dafür hast du sicher auch deine Gründe, oder hast du es am Kaffeesatz gelesen?

Langfristig heißt bei Dir auch 30 Jahre warten. Bis auf Microsoft sehe ich SAP un den anderen Berghirten bei weiteren - 30 bis 50%

So ist es. Nur der Aktienrückkauf von 10 Mrd. seitens SAP bremst den Abflug etwas aber am Ende. Anders auch gar nicht möglich. Wird SAP nie wieder die 200 Euro sehen. So wie die Deutsche Telekom auch nie die 100 sehen wird. Wie damals. Nicht vergleichbar. Emotional JA. Am Ende sehe ich SAP bis Ende 2026 bei unter 120 Euro im Kurs. Ich habe verkauft.

So wie es ausschaut, wird sich das Ding nie mehr erholen? 👹

'Dorian Carrell, head of multi-asset income at Schroders, said the strength of the single currency is something that companies have been factoring in. "The large part of it is done, in the sense that U.S. companies have benefitted and it's been a headwind for Europe," Carrell said. "From here, the trajectory of the dollar and euro from our perspective is less clear, which would probably be an advantage to European companies."''TECH DISPERSION Nothing has highlighted the dispersion in technology stocks quite as much as the recent performance from the euro zone's largest company, Dutch ASML , and its fourth-largest, Germany's SAP . ASML, whose tools are used by chipmakers including the world's largest, Taiwan's TSMC, raised its sales outlook due to surging demand from the AI buildout. In contrast, software company SAP, which was Europe's largest company as recently as March last year, tumbled 16% on earnings day as concerns grew about AI's disruptive effects on the software sector. "Semiconductors have done so much better than software companies recently," Schroders' Carrell said. "Our philosophy is to look where expectations and valuations are low, so we think that might be a little bit overdone," Carrell added, noting that software valuations are now cheaper than for hardware.'

Der Abverkauf bei Software ist total übertrieben. Ich habe mich diese Woche mit Microsoft, Amazon und SAP Aktien eingedeckt. Ich glaube langfristig kann man da nichts falsch machen bei den Kursen.

https://share.google/HKA8AvtdFfchkrT6T

Guter Preis zum Nachkaufen

Why Stocks Are Making Gigantic Moves All Over the Place By Jacob Sonenshine Feb 13, 2026, 2:43 pm EST 'One explanation is that investors are moving money into investment vehicles that can exacerbate the moves. Money has poured into hedge funds. According to the SS&C Technologies Hedge Fund Index, the net amount that flowed into hedge funds each month has risen over the past three months. So far this month, the inflow has been the largest since May. As cash has flowed in, hedge funds have bought up plenty of stock. A separate data set from Bank of America proves the point. The bank’s hedge fund clients ordered a net $3.5 billion worth of individual stocks this year through Tuesday, while the bank’s other clients were net sellers. The four-week average flow of hedge fund cash into single stocks has hit its highest level since 2020. That kind of buying can cause stock surges, sometimes to prices above what anyone had previously expected. Many hedge funds operate on the assumption that rising stocks will continue to rise, and that declining stocks will keep falling, creating a reason for their trading to accentuate what is already happening in the market, explains Trivariate Research’s Adam Parker. “Money is flowing into multi-strategy [hedge fund] shops,” says Ari Saas of asset manager M.D. Saas. “There are these exacerbated moves.” The takeaway for now is that there are plenty of opportunities for big gains in a stock, and plenty of risk of big losses.' www.barrons.com/articles/stocks-vix-b...

Hilfe Analysten 👹

February 14, 2026 1:44 AM Dan Ives Calls AI-Driven Software Selloff 'Most Disconnected Trade,' Says Salesforce And ServiceNow Are Historic Buys by Ananya Gairola Benzinga Staff Writer On Friday, Wedbush analyst Dan Ives said Wall Street is misreading the impact of artificial intelligence on enterprise software. AI Disruption Fears Spark Software Rout Speaking on CNBC's "Closing Bell," Ives said investors are pricing in an unrealistic scenario in which AI tools rapidly replace traditional software platforms. "The most disconnected trade I've ever seen in my career on Wall Street," Ives said, referring to the sharp pullback in large-cap software stocks. Shares of Salesforce Inc. (NYSE:CRM) and ServiceNow Inc. (NYSE:NOW) have faced pressure amid concerns that generative AI tools from firms such as Anthropic could automate high-value enterprise workflows and shrink software budgets. Salesforce and ServiceNow shares are down over 20% in the past one month, according to Benzinga Pro. Enterprise Software Moats Remain Intact Ives pushed back on that narrative, arguing that enterprise customers remain deeply embedded in platforms like Salesforce and ServiceNow, with high switching costs and long-term contracts limiting near-term disruption. He said AI monetization across major software firms remains in its early stages and could ultimately accelerate revenue growth rather than diminish it. Earlier, strategists at JPMorgan said markets appear to be pricing in near-term AI disruption at unrealistic levels. "We believe the balance of risks is increasingly skewed towards a rebound," said Dubravko Lakos‑Bujas, Head of Global Markets Strategy. Earlier this month, Ives restored Salesforce and ServiceNow to his AI-focused watchlist. "We believe the sell-off in tech stalwarts Salesforce and ServiceNow are way overdone and both these tech players will be core participants in the AI Revolution," he said then. https://www.benzinga.com/markets/tech/26/02/50631939/dan-ives-calls-ai-driven-software-selloff-most-disconnected-trade-says-salesforce-and-servicenow-are-historic-buys?mod=mw_quote_news