MILAN, Jan 29 (Reuters) - Shares in Europe's largest software maker SAP (SAP) ​were set for their ‌steepest daily fall since October 2020 on ‌Thursday, down over 10% after results failed to stem a slide that has wiped around $150 billion off ⁠its market value ‌from its 2025 peak. The fall in share price was caused by a cloud backlog and disappointing sales guidance. The German group reported fourth-quarter revenue ‍that met market estimates, though its cloud backlog and 2026 cloud revenue forecast ​missed expectations. "SAP needed an all-round ‌acceleration to fight the trough sector sentiment, and with puts and takes in the update we see shares underperforming," said Citi analyst ⁠Balajee Tirupati. Like other software ​makers in Europe ​and on Wall Street, SAP has been dragged by growing ‍fears of ⁠AI disruption.