Palantir has Dropped 30%. Is the Stock a Buy on the Dip?
Palantir Technologies (NASDAQ: PLTR) has been one of the high-flyers of the artificial intelligence (AI) boom. The company's earnings and share price have soared in recent years thanks to its AI-driven software that allows governments and businesses to pump up efficiency, drive down costs, and make game-changing moves.Quarter after quarter, the company has reported double-digit revenue gains in its government and commercial businesses. And the stock advanced more than 1,100% since its market debut in 2020 through early February of this year, continuing to roar higher even as some analysts sounded the warning bell, saying the stock had become too expensive.Finally, a plan from the Pentagon -- a major Palantir customer -- to launch budget cuts was the element to send shares tumbling. Over the past two weeks, the stock has retreated more than 30%. Are investors right to worry about this potential headwind and stay away from Palantir, or is the stock a buy on the dip? Let's find out.Continue reading
Palantir Technologies (NASDAQ: PLTR) has been one of the high-flyers of the artificial intelligence (AI) boom. The company's earnings and share price have soared in recent years thanks to its AI-driven software that allows governments and businesses to pump up efficiency, drive down costs, and make game-changing moves.
Quarter after quarter, the company has reported double-digit revenue gains in its government and commercial businesses. And the stock advanced more than 1,100% since its market debut in 2020 through early February of this year, continuing to roar higher even as some analysts sounded the warning bell, saying the stock had become too expensive.
Finally, a plan from the Pentagon -- a major Palantir customer -- to launch budget cuts was the element to send shares tumbling. Over the past two weeks, the stock has retreated more than 30%. Are investors right to worry about this potential headwind and stay away from Palantir, or is the stock a buy on the dip? Let's find out.
