Palantir at $130 — Overreaction or Reality Check?

The selloff isn’t just price — it’s narrative.

Bears argue AI players like Anthropic are eroding Palantir’s edge. But Palantir isn’t competing on models — it wins on deployment (data integration, security, workflows), especially in government.

The real risk isn’t collapse — it’s slower growth.

At prior highs, the stock priced in near-perfect execution. What we’re seeing now looks more like multiple compression, not a broken business.

What matters next:

• Government revenue growth

• AIP deal conversion

• Commercial acceleration

My take:

Not a death spiral — a valuation reset.

Next move depends on whether Palantir can prove growth is still there.