Is Palantir Stock a Buy Now?
Palantir Technologies (NASDAQ: PLTR) stock rallied impressively in 2024 after it became evident that the software platforms and data analytics specialist benefits from the fast-growing demand for artificial intelligence (AI) software. The stock started 2025 on a solid footing as well. However, since hitting an all-time high in mid-February, the stock price has fallen as much as 40% and is currently trading almost 14% down. Palantir's decline can be attributed to the broader stock market pullback triggered by the tariff-fueled trade war.
Despite the price drop, the demand for Palantir's AI software solutions remains solid, as evidenced by a recent military contract that the company landed. Moreover, the AI software platforms market that Palantir serves is expected to generate $153 billion in annual revenue in 2028, suggesting a compound annual growth rate of 41% over a five-year period.
It won't be surprising to see the demand for Palantir's AI software solutions jump higher in the coming years. So, should investors consider buying Palantir stock following its recent pullback to take advantage of the rapid growth in the AI software platforms market?
Source Fool.com
