Posted 3/28/2024, 1:47:58 PM
Palantir Stock Downgraded Amid 'Generative AI Hype' Despite Long-Term Potential
- Analyst downgraded Palantir stock to sell from neutral due to "unprecedented generative AI hype cycle" leading to rich valuation
- Palantir stock down 1%+ on Thursday, but still up 43% in 2024
- Palantir aims to use generative AI to drive commercial growth in health care, energy, manufacturing
- Palantir showcased new AI platform in March, gaining traction with commercial customers
- Analyst Palantir well-positioned for long-term AI trend, but revenue lumpy, execution spotty, valuation excessive