2024-03-11 09:15:00 ET
We are in an artificial intelligence (AI) boom or perhaps an AI bubble. Maybe a bit of both. Either way, any stock considered a beneficiary of AI spending by companies and governments is soaring, like Nvidia or Super Micro Computer , for example. Analysts are predicting the world will spend hundreds of billions on AI tools in a few years, maybe even a trillion dollars or more if you believe the most optimistic analysts.
One stock considered an AI winner is Palantir (NYSE: PLTR) . The software-analytics provider for the U.S. military, its allies, and commercial customers has seen its stock soar 300% since the beginning of 2023. The Nasdaq 100 -- which is currently in one of its best bull runs ever -- is up 65% over the same time frame.
Retail investors love Palantir and are extremely optimistic about its prospects. As one of the largest technology-growth stocks to go public in the last few years, many are even calling it the next " Magnificent Seven " stock ready to reach a market cap of $1 trillion. Can Palantir join the $1 trillion market-cap club with the rest of the Magnificent Seven? Let's run through the numbers and find out.
For further details see:
Can Palantir Stock Join the "Magnificent Seven" and the $1 Trillion Club?