SAP (SAP GY) exec. says current cloud backlog rose 25% to EUR 21.9bln; framed demand visibility as solid going into the rest of 2026 despite a more volatile macro backdrop

The announcement from SAP indicates strong demand signals, with their cloud backlog rising significantly. This 25% increase, coupled with positive visibility for demand into 2026, suggests a solid growth outlook despite macroeconomic volatility, which could bolster investor confidence in their stock and positively influence the software sector as a whole.