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PLTR Stock: Why Wall Street Skepticism and Stiff Competition Spell Trouble

Evidence continues to accumulate that Palantir’s (NYSE: PLTR ) business is growing rapidly, driven by a significant amount of enthusiasm for its Artificial Intelligence Platform which facilitates the use of AI by large companies and government agencies. Nonetheless, AIP is facing tough competition which is likely to greatly rise over the longer term, likely causing PLTR’s growth to significantly deteriorate. Moreover, the valuation of PLTR stock remains quite stratospheric, while there’s some evidence that the Street’s enthusiasm towards the shares is limited. Also noteworthy is that, as I pointed out in previous columns, the firm continues to generate very little profit. Given all of these points, I continue to advise investors to sell PLTR stock. AIP Is Boosting the Company’s Financial Results In recent weeks Palantir’s AIP offering appears to have generated a significant amount of orders and revenue for the firm. Indeed, Dan Ives, a well-known analyst at investment bank Wedbush , earlier this month wrote reported that, based on his research, he thinks that “many US enterprises” are poised to use AIP to develop their AI systems....

InvestorPlace - 3/25/2024 8:40:01 AM More News for IBM
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