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Competitor of SAP makes public debut; it's worth noting that Amazon's shares could also be a consideration for investors

On Tuesday, a rival of SAP saw a significant rise in its share price, pulling Amazon stocks up for a particular cause. Did SAP similarly reap the benefits from this surge of profits?

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Competitor of SAP makes public debut; consider Amazon's shares as well during investments
Competitor of SAP makes public debut; consider Amazon's shares as well during investments

Competitor of SAP makes public debut; it's worth noting that Amazon's shares could also be a consideration for investors

In the ever-evolving world of technology, the stocks of Amazon, SAP, and Oracle have been making headlines recently.

Amazon's stock has been on a steady climb, with an average target price of $222.88 set by Wall Street analysts. On Tuesday, Amazon's stock rose by 1.17% to $177 in pre-market trading, following a 2.34% increase the day before. The growth driver behind Amazon's business model, AWS, saw double-digit revenue growth in the second quarter.

AWS's success has not gone unnoticed by other tech giants. Oracle, in a significant move, announced a comprehensive agreement with Amazon's cloud division, AWS. This cooperation could potentially impact Amazon's stock, as Oracle databases are expected to run more strongly on AWS's cloud platform in the future.

Oracle's stock has also been on an upward trajectory, with an over 34% increase since the beginning of the year. On Tuesday, Oracle's stock rose nearly 9% in pre-market trading, reflecting the market's optimism following Oracle's positive earnings.

Meanwhile, SAP, a member of the Tech-Gigant Index of BÖRSE ONLINE, has been closing in on a significant milestone. The stock is close to the magical mark of 200 euros, which it reached for the first time recently. SAP's stock saw a gain of 1.5% at Tradegate and maintained the increase until Tuesday afternoon.

The hype around cloud and AI continues to be infectious, with investors anticipating the potential benefits of these technologies. On Monday and Tuesday, investors who anticipated Oracle's positive earnings benefited, while SAP also experienced a gain amid the surge in market optimism.

It's important to note that the management board of the publisher Börsenmedien AG, Leon Müller, has entered into direct and indirect positions in the financial instruments mentioned in this publication or related derivatives.

As we move forward, it will be interesting to see how these tech giants continue to navigate the ever-changing landscape of the technology industry. The growth and success of these companies serve as a testament to the ongoing demand for innovative solutions in the cloud and AI sectors.

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