The largest and best-known U.S. tech stocks are sometimes labelled ‘The Magnificent Seven’, after the Hollywood action franchise featuring multiple lead roles. An equivalent movie-based metaphor for big tech in Europe would have a cast of one—think The Bourne Identity’s Jason Bourne or Alien’s Ellen Ripley.

Because while investors in America (and increasingly China too) have many large and fast growing tech companies from which to choose, in Europe there is really only one firm that in scale and reach can stand comparison with the likes of Alphabet , Amazon , Apple , Meta , Microsoft , Nvidia and Tesla . That is Germany’s SAP , or as it is sometimes known, Der Eine (The One).

Not only is the firm—a specialist in back-office enterprise resource planning (ERP) software—Euro

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