Palantir Stock Surges on AI Momentum and Improving Profits
-
Palantir stock has nearly tripled in 2023 due to AI excitement and improving financials like 17% revenue growth and first-ever quarterly GAAP profits.
-
Palantir launched an AI Platform allowing customers to leverage large language models, driving substantial demand and accelerated sales.
-
Revenue and customer growth remain solid, while profit margins are expanding rapidly.
-
Valuation looks expensive with a P/E ratio of 69, but long-term prospects seem bright.
-
Though unlikely to triple again in 2023, Palantir still looks like a smart long-term investment, especially if bullish on AI.