You can't deny Palantir's (PLTR 1.56%) monster stock run over the last year. Shares are up 237% in the last 12 months and a whopping 600% since going public back in 2020, making long-term investors a fortune.
Artificial intelligence (AI) is the hottest investment theme on the planet right now. And for good reason.
Shares of Palantir Technologies have advanced 290% year to date as unrelenting demand for its artificial intelligence (AI) platform has led to a series of strong financial results. While impressive, Palantir is only the second-best performing member of the S&P 500 (^GSPC 0.56%) this year.
Palantir Technologies (PLTR 1.56%) has been one of the top-performing stocks this year. The company's strong results led to the stock's inclusion on the S&P 500, and now it has moved to the Nasdaq stock exchange, where it could soon join the even more exclusive Nasdaq 100 index.
Palantir Technologies (PLTR 1.56%) shares have soared by 285% this year, while Nvidia (NVDA 2.15%) shares have advanced by 175%. Both companies play important roles in the burgeoning artificial intelligence (AI) economy, but several billionaire fund managers sold some of their Palantir stakes and bought more shares of Nvidia during the third quarter.
It's been an excellent year for stock market investors. The S&P 500 index has delivered an excellent 26% return thus far in 2024, driven by resilient macroeconomic conditions, record corporate earnings, and growing optimism about artificial intelligence's (AI) transformative potential across the economy.
Artificial intelligence — with its potential to revolutionize entire industries, has been one of the hottest market segments of the past two years. While the backbone of this exciting new frontier — chipmaker Nvidia (NASDAQ: NVDA), has been the most closely-watched success story, there's one company in the space that has managed to outperform it, owing to recent surges.
Palantir Technologies (PLTR 0.47%) has been one of the top stocks of the artificial intelligence (AI) era. Shares of the cloud software company best known for its data analytics and AI platforms are trading up 275% year to date, the best-performing stock on the S&P 500 this year after Vistra, an unregulated utility that's seen its stock soar as investors anticipate an AI-driven spike in demand for power.
The artificial intelligence (AI) analytics company Palantir Technologies (PLTR 0.47%) enjoyed quite the run in the market, surging this year partly due to the AI trade. Palantir's stock is up nearly 285% this year.
Every so often in an investor's life, there will be a stock that you really want to own, but that you shouldn't buy. If you lack significant investment experience, or considerable willpower, you may be inclined to purchase the asset, potentially leading to future regret.
Palantir Technologies (PLTR 0.47%) has been in the news for all the right reasons. On Nov. 4, the company reported stellar third-quarter earnings results.
Palantir shares have surged 285% year to date due to encouraging financial results and growing excitement about its position in the artificial intelligence economy. However, the billionaire-run hedge funds below sold Palantir stock in the third quarter, while buying shares of the Vanguard Information Technology ETF (VGT -1.03%).