Will Palantir Be a $1 Trillion Stock by 2035?
Palantir Technologies' (NYSE: PLTR) stock began a bull market run in early 2023 following the release of its artificial intelligence platform (AIP). Even though the company had long relied on AI to deliver analytical insights, the release of AIP appears to have placed the stock on investors' radar.
Although it was already a large-cap stock, the rise in the stock price took its market cap to just over $35 billion, and early findings from the company's AIP boot camps show it has the potential to drive game-changing levels of growth. The question for investors is whether this new growth rate can take the market cap of the AI stock to the $1 trillion mark by 2035.
At first glance, Palantir does not appear to have a likely path to a $1 trillion market cap by 2035. To reach that level over the next 11 years, the stock price has to increase by an average of at least 36% per year. Moreover, investors should not assume it will get there because of last year's stock performance. For those who may have not followed the company, Palantir stock rose by nearly 160% over the previous 12 months.
Source Fool.com
