Palantir share price prediction: PLTR stock to rise or crash as AI darling set to announce earnings results. Check here

Palantir Technologies Inc stocks could jump or crash as the Artificial Intelligence firm is set to announce earnings report after the closure of the U.S Stock Market today. PLTR stocks rose at Nasdaq by 1.70 per cent. Palantir Technologies Inc, which came into the day with a stunning 165 per cent gain for the year so far, may go up or feel by around 10 per cent, according to Wall Street analysts.

Traders are pushing up the AI darling in the final hours before the data platform company reports its latest quarterly results after trading closes for the day.

A much longer-lasting frenzy on Wall Street has been the furor around artificial-intelligence technology, which proponents say is in the midst of changing the world. It and companies across the U.S. stock market will need to hit expectations in order to justify the big gains for their stocks since hitting a low in April. Criticism has been rising that the broad U.S. market, and AI stocks in particular, have become too expensive and could be inflating into a dangerous bubble similar to the 2000 dot-com bust.


For the most part, companies have been meeting high expectations for profits. Four out of every five companies in the S&P 500 that have delivered their results for the latest quarter so far have topped analysts’ forecasts, according to FactSet. With the reporting season roughly two-thirds done, companies in the S&P 500 are on track to deliver healthy growth of nearly 11 per cent from a year earlier.

Nvidia was one of the strongest forces lifting the S&P 500 Monday, much like it has been for the year so far. The chip company rose 2.7 per cent to bring its gain for the year so far to nearly 55 per cent.

Microsoft added 0.3 per cent after it announced a $9.7 billion contract with AI cloud service provider IREN that will give it access to some of Nvidia’s chips. The five-year deal will help Microsoft as it looks to keep up with AI demand. IREN jumped 10.9 per cent.

Amazon rallied 4.9 per cent after announcing a $38 billion agreement with OpenAI, which will use Amazon’s cloud computing services to run its AI workloads.

FAQs

Q1. When will Palantir Technologies Inc announce earnings results?
A1. Palantir Technologies Inc will announce earnings results on Monday, November 3.

Q2. How have Amazon stocks performed?
A2. Amazon rallied 4.9 per cent after announcing a $38 billion agreement with OpenAI, which will use Amazon’s cloud computing services to run its AI workloads.