A SAP executive says the “pendulum will swing back” from the SaaSpocalypse.
Like many software companies, the German software giant has seen its stock hit hard over the past year amid competition from AI tools. This stock sell-off of software-as-a-service (SaaS) companies, known as the SaaSpocalypse, has hit companies like Salesforce, SAP, and Workday as Anthropic and OpenAI have introduced tools that could threaten their businesses.
SAP’s stock has been down about 20% over the past year, though it’s been on an upward trend over the past month.
When SAP reported its earnings in late July, investors responded positively to the company’s…
