To The Moon

🌟🌟🌟Artificial Intelligence is the new buzzword on Wall Street with the huge success of ChatGPT chatbot.   Shares of Tech Giants like Nvidia, Microsoft and Meta Platforms are  reaching all time highs this year.

However besides Big Tech, the smaller AI Stocks have more upside potential.  

$Palantir Technologies Inc.(PLTR)$  has had an awesome 2023 with its share price up 197%.  Palantir is up 44% year todate.  However last week, Palantir's shared are down 6%.  It seems that investors are concerned about a possible bubble when it comes to AI Stocks.  With Palantir is trading near its recent all time high of USD 27.50 and with the FOMC meeting this week, investors are in a more cautious mode. 

Palantir has been profitable for 5 consecutive quarters and will be included in the S&P500 Index soon.  

As one of the top AI companies, Palantir specialises in providing data analysis solutions that aid organisations in gaining valuable insights from their data as efficiently as possible. 

The biggest boost for Palantir was its Q423 earnings report after which it closed 30% higher.  Palantir reported a 20% increase in quarterly revenue to USD 608.4 million versus expectations of USD 602.4 million. 

For the upcoming Q124 Palantir forecasts revenue of between USD 612 million and USD 616 million. 

CEO Alex Karp said that the demand for Large Language Models or LLMs continues to be unrelenting in the US. 

Palantir has been expanding its Artificial Intelligence Platform or AIP, executing nearly 600 pilots using the technology in the past year. 

Palantir has been awarded big contracts, the most recent one is the USD 178.4 million contract from the US Army for a project code named TITAN.  TITAN stands for Tactical Intelligence Access Mode, mobile ground stations powered by AI and machine learning technology. 

I believe that 2024 will be another great year for Palantir as it continues to grow and win more contracts in Data Analytics.   Palantir is in my humble opinion, The Best AI Stock To Watch and Invest  Besides Microsoft. 

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