Why May Could Be a Turning Point for Palantir Stock

Palantir Technologies (NASDAQ: PLTR) soared during most of this artificial intelligence (AI) boom, but one thing prompted caution at certain times, and that's the stock's valuation. It skyrocketed, reaching a peak of more than 240x forward earnings estimates last year. So, as investors became increasingly worried about the formation of an AI bubble several months ago, Palantir became one of the first AI stocks to suffer.On top of that, concerns about whether AI demand would remain sustained circulated in the market -- and that also weighed on appetite for Palantir stock. As a result, Palantir has declined about 19% since the start of the year. It's important to remember, however, that during all of this, Palantir's positive earnings story didn't change: The company continued to report solid demand, and revenue and profit climbed. This wasn't enough to meaningfully lift the stock -- but here's why the month of May could be a turning point.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool