SAP down today – any broader read-throughs for tech?

Watching $SAP today, down 2.53% to 154.34, certainly makes you wonder if it's an isolated company-specific issue or a signal for enterprise software more broadly. We've seen some resilience in certain tech sub-sectors, but a dip in a bellwether like SAP, even if contained for now, always warrants a closer look.

It's not a dramatic move, but combined with the ongoing higher-for-longer rate talk, it keeps me hesitant on adding to positions in the broader tech basket. The focus remains on cash flow and clear paths to profitability, especially with any hint of tightening corporate IT budgets. Will be interesting to see if this is just noise or the start of a trend for the sector into month-end.