FRANKFURT (dpa-AFX) – Siemens shares continued their strong rebound on Wednesday, recovering further from their recent plunge to the 200-day moving average. At their peak, the Munich-based company's stock rose by nearly 5 percent to €247.40. The previous day, shares had temporarily dropped to a yearly low, barely holding above their long-term average line.
In recent trading sessions, the stock has been on a rollercoaster ride between a record high of nearly €276 and the previous day's yearly low, following an upward revision of earnings guidance for the current fiscal year and renewed concerns over artificial intelligence.
Since the end of January, Siemens has been locked in a race with SAP for the title of most valuable German company on the stock market. Currently, Siemens stands at around €197 billion, clearly trailing the Walldorf-based software firm, which boasts a market capitalization of approximately €209 billion.
Meanwhile, shares of Siemens Energy—Siemens' affiliate—continued their record-breaking run on Wednesday, reaching a new high of nearly €168. Driven by speculation over AI-related electricity demand, the energy technology group has now climbed to a market value of around €145 billion./ag/mis/jha/
