Can Palantir Stock Join the "Magnificent Seven" and the $1 Trillion Club?
We are in an artificial intelligence (AI) boom or perhaps an AI bubble. Maybe a bit of both. Either way, any stock considered a beneficiary of AI spending by companies and governments is soaring, like Nvidia or Super Micro Computer, for example. Analysts are predicting the world will spend hundreds of billions on AI tools in a few years, maybe even a trillion dollars or more if you believe the most optimistic analysts.
One stock considered an AI winner is Palantir (NYSE: PLTR). The software-analytics provider for the U.S. military, its allies, and commercial customers has seen its stock soar 300% since the beginning of 2023. The Nasdaq 100 -- which is currently in one of its best bull runs ever -- is up 65% over the same time frame.
Retail investors love Palantir and are extremely optimistic about its prospects. As one of the largest technology-growth stocks to go public in the last few years, many are even calling it the next "Magnificent Seven" stock ready to reach a market cap of $1 trillion. Can Palantir join the $1 trillion market-cap club with the rest of the Magnificent Seven? Let's run through the numbers and find out.
Source Fool.com
