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SAP Casts a Cloud Over Software

A crush of workers sent home earlier this year turned out to be good for a lot of tech companies. Keeping them home might not be.

That was the message Monday from SAP. The German enterprise-software giant lowered its revenue and profit targets for the full year and adjusted what it calls its “midterm ambition,” projecting lower cloud revenue through 2025 in part due to “investment delays” in several industries grappling with the coronavirus pandemic’s duration.

That…