PLTR - Palantir Stock Is Cratering but the Reason Why May Surprise You (Hint: It's Not Because of Artificial Intelligence Competition)
2024-05-29 16:00:00 ET
The excitement around artificial intelligence (AI) can't be understated. Technology stocks in particular soared in 2023, helping propel the Nasdaq Composite by 43%.
Last year, a small cohort of megacap technology companies collectively referred to as the " Magnificent Seven " played a major role in pushing the markets. However, a number of other opportunities are emerging outside of big tech as the AI revolution charges onward.
Shares of Palantir Technologies (NYSE: PLTR) soared 167% last year. Moreover, Palantir stock was up 36% this year prior to publishing first-quarter earnings on May 6.
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Palantir Stock Is Cratering, but the Reason Why May Surprise You (Hint: It's Not Because of Artificial Intelligence Competition)