While tech stocks in general have fared well this year amid cooling inflation and slower rate hikes by the U.S. Federal Reserve, SAP has seen a couple of other tailwinds as well. The company’s cloud business, which has been a key focus area for investors, saw sales rise by 24% year-over-year although this metric fell slightly short of estimates. There are clearly headwinds for the enterprise software market, with global economic growth set to cool and this could impact companies such as SAP.