Palantir and Snowflake Stocks Drop Over 50%, Present Buying Opportunities for AI-Driven Future Growth
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Palantir Technologies (PLTR) is a leading AI services provider, with revenue up over 3x since 2018. The stock is down 57% from 2021 highs.
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Palantir is profitable and trades at a forward P/E of 45. The sell-off presents an opportunity to buy into future AI growth.
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Snowflake's (SNOW) Data Cloud platform powers AI by enabling access and analysis of vast information. The stock is down 51% from highs.
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Snowflake revenue grew 34% last quarter. Management forecasts $10 billion in product revenue in 2029, up from $2.65 billion in the current fiscal year.
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Both Palantir and Snowflake are poised to benefit enormously from long-term AI tailwinds. The stocks present compelling value given the huge upside ahead.