All Eyes Should Be on This One Thing for Palantir Earnings
The rise of generative artificial intelligence (AI) like ChatGPT has served as a tailwind for the stock market throughout 2023. At the time of this writing, the Nasdaq Composite Index is up a whopping 35% year to date, largely thanks to tech companies identifying ways that AI can enhance their business.
When companies reported first-quarter earnings a few months ago, it seemed like every big tech and growth stock focused on AI road maps. Subsequently, investors generally cheered this news, thereby propelling equities higher. Now, as second-quarter earnings season arrives, investors will see how much progress has been made on these AI ambitions.
The is especially the case for big-data analytics company Palantir Technologies (NYSE: PLTR). Since going public in 2020, Palantir's stock has been all over the place. The company has faced its share of negative investor sentiment with short-sellers labeling it as a consulting company masking itself as a tech firm, as well as some on Wall Street criticizing it for relying heavily on large government contracts that contribute to some lumpiness in its financial statements.
Source Fool.com
