Palantir Technologies Is 30% Below Its All-Time High: Here's How Far It Can Fall
Wall Street's hottest artificial intelligence (AI) stock may be running on borrowed time.
For much of the last two-and-a-half years, the bulls have been in firm control on Wall Street. Since the 2022 bear market bottomed out, we've witnessed the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all gallop to numerous record-closing highs.
While a confluence of factors is responsible for lifting the broader market, such as a resilient U.S. economy, a tapering inflation rate, and Donald Trump's return to the White House, nothing has played a bigger role in sending stocks higher than the evolution of artificial intelligence (AI).
Software and systems that are empowered with AI have the capacity to reason and act on their own, and can potentially evolve to learn new tasks, all without the aid of human intervention. It's a technology the analysts at PwC believe can add $15.7 trillion to the global economy by the turn of the decade.
