Could Palantir Stock Help You Retire a Millionaire?
Palantir Technologies (NASDAQ: PLTR) stock was one of the top performers on the stock market in 2024, jumping 340% in 2024.
The defense tech stock was fueled by a ramp in revenue growth and operating margin, as its artificial intelligence platform (AIP) gained traction with both federal government customers and its U.S. commercial business.
The company got its start in counterterrorism serving the federal government after 9/11, and it's since added new platforms, including AIP in 2023, which supercharged its business. Meanwhile, the AI boom also led investors to bid up the stock. Toward the end of last year, the stock jumped following a strong third-quarter earnings report and on the election, as investors anticipated more spending by defense contractors like Palantir.
Source Fool.com
