How Palantir Stock Could Skyrocket in 2024?!

Artificial intelligence (AI) is one of the most exciting and disruptive technologies of our time. It has the potential to transform various industries, from defense and security to healthcare and finance. Among the companies that are leading the way in AI innovation, Palantir Technologies stands out as a high-quality and high-growth business. However, it also faces some challenges and uncertainties that could affect its valuation and performance. In this video, I will analyze the strengths and weaknesses of Palantir, and discuss why it could be a compelling investment opportunity for aggressive investors in 2024.

Palantir is a big data software company that provides platforms and solutions for government and enterprise customers. It was founded in 2003 by a group of former PayPal executives, including Alex Karp, who is the current CEO and co-founder. Palantir's mission is to leverage the power of data and AI to solve the world's most critical problems. Its name comes from the fictional seeing stones in J.R.R. Tolkien's Lord of the Rings, which allow the user to see faraway places and events.

Palantir operates four major platforms: Gotham, Foundry, Metropolis, and AIP. Gotham is the platform for government customers, especially in the defense and intelligence sectors. It enables them to integrate, analyze, and share data from various sources, and to support decision-making and operations. Foundry is the platform for enterprise customers, across various industries such as healthcare, energy, manufacturing, and finance. It enables them to create a common data fabric, and to build and deploy applications that leverage data and AI. Metropolis is the platform for financial customers, such as hedge funds and banks. It enables them to perform advanced analytics and modeling on large and complex data sets. AIP is the newest platform, launched in mid-September 2023. It is the AI platform that allows customers to run large language models, such as OpenAI's GPT-4, on their private networks, and to analyze data in a matter of days, which used to take months.

Palantir has been one of the best-performing AI stocks in 2023, with shares rising 173% despite dropping 14% in December. It has also been profitable for four consecutive quarters on a GAAP basis, and has generated strong free cash flow. It expects to report $2.218 billion in revenue in 2023, a 16% increase from 2022, and $284 million in GAAP profits, a significant improvement from a $124 million loss in 2022. It also expects to achieve its first calendar year of profitability in 2023.

However, Palantir is not without risks and challenges. It is valued at 69.4 times estimated 2023 earnings, which implies high expectations and a high premium. It also relies heavily on government contracts, which accounted for 55.2% of its revenue in Q3 2023, and which could be subject to political and regulatory uncertainties. It is facing competition from other AI players, such as Nvidia (NASDAQ:NVDA), which is also a leader in AI hardware and software. It is struggling to gain ground in the European public-sector defense market, where it faces resistance from local competitors and privacy concerns. It is also uncertain whether its commercial growth, which increased by 23% in Q3 2023, and its customer growth, which increased by 37% in Q3 2023, can be sustained and accelerated in the future.

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