Share prices of Palantir Technologies (NYSE: PLTR) and Snowflake (NYSE: SNOW) are heading in different directions in 2024, thanks to the way Wall Street reacted to their recent quarterly results.

Palantir Technologies stock shot up impressively following its fourth-quarter 2023 results last month as investors appreciated the company's growing influence in the artificial intelligence (AI) software market. Snowflake's stock dropped like a rock as the cloud-based data platform provider failed to back up its solid quarterly results with a robust outlook.

Does this mean Palantir is a better stock to buy right now, especially considering the AI tailwind? Or should investors consider taking advantage of the pullback in Snowflake stock as it seems to be making smart moves to capitalize on the AI data opportunity? Let's find out.

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Source Fool.com