PLTR - 2 Popular Artificial Intelligence (AI) Stocks to Sell Before They Drop 29% and 77% According to Certain Wall Street Analysts
2024-04-19 04:15:00 ET
The artificial intelligence (AI) gold rush is in full swing. The technology-heavy Nasdaq Composite advanced 31% over the past year as investors piled into the market, hoping to strike it rich. Sentiment is still running hot, but it's important to be choosy when buying stocks. Not every company will be a long-term winner, and not even the best company is a good investment at any price.
With that in mind, certain Wall Street analysts see substantial downside in two popular AI stocks, Tesla (NASDAQ: TSLA) and Palantir Technologies (NYSE: PLTR) . Here's what investors should know.
Ryan Brinkman at JPMorgan Chase reduced his revenue and earnings estimates for Tesla earlier this month when the company reported first-quarter deliveries, which missed expectations by a wide margin. Brinkman also lowered his year-end price target to $115 per share, which implies 29% downside from the current price of $161 per share.
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2 Popular Artificial Intelligence (AI) Stocks to Sell Before They Drop 29% and 77%, According to Certain Wall Street Analysts