SAP has seen a major drop over the last week ~30% (with still some further room to decline. Shall this occur, and the opportunity becomes even more attractive). This is a strong company with solid fundamentals and margin for growth (mainly driven by its cloud business). Furthermore, it is highly correlated with the DAX (and tends to outperform it). Thus, shall you believe in the cloud business, SAP software and the German economy recovery (over a 3-5y span), this is a great timing to buy in. Potential Long-term adjusted return is very attractive.
Comment: "SAP Q1 2021: Cloud gains momentum while operating profit takes a hit"

SAP confirms Cloud gains and additional future potential. Operating profit is momentaneously down due to Qualtrics IPO related items - expected to be back to normal in the next quarter.

Good outlook ahead. LONG!

Key highlights:

1) Operating Profit
-SAP reported an operating profit of €0.96 billion IFRS, down 21% year-over-year, up 17% to €1.74 billion non-IFRS and up 24% non-IFRS at constant currencies. Operating cash flow for Q1 2021 reached €3.09 billion;
-The vendor says that the plunge in operating profit is mainly due to "higher share-based compensation expenses (primarily related to Qualtrics IPO awards) and restructuring.";

2) Cloud gains:
-Cloud revenue grew by 7% year-over-year, to €2.14 billion (IFRS), up 7% non-IFRS and up 13% non-IFRS at constant currencies;
-A current cloud backlog of €7.63 billion has been recorded. Current cloud backlog revenue was up 39% to €1.04 billion and up 43% (at constant currencies). S/4HANA cloud revenue was up 36% to €227 million (IFRS and non-IFRS) and up 43% (at constant currencies);

3) Overall:
- SAP's full-year revenue outlook, revealed ahead of Q1 earnings, includes non-IFRS cloud revenue of between €9.2 billion and €9.5 billion, up 14% to 18%;