How High Can Palantir Technologies Stock Go?
Palantir's stock is up again after posting solid quarterly results.Palantir gives investors a reason to remain bullishA big challenge for tech companies is that as their businesses grow, they are going up against stronger comparable sales numbers from the previous year. That makes it difficult for a business to maintain a high rate of growth. In Palantir's case, however, that hasn't been a problem at all. Its growth rate has been accelerating.PLTR operating revenue , data by YCharts; YoY = year over year.The business was showing signs of slowing down in 2023. But its new Artificial Intelligence Platform provides customers with new ways to enhance and improve their decision-making, leading to tremendous growth. CEO Alex Karp says the company has a "deepening position at the center of the AI revolution."When a business is growing as fast as Palantir, it's easy to see why the AI stock continued to rally. The only problem is that at a forward price-to-earnings multiple (P/E) of around 200