Software company Palantir Technologies (NYSE: PLTR) has been in the spotlight since it went public in 2020. The stock has soared in 2023 on investor optimism for artificial intelligence (AI) and what it could do for the global economy.

After hitting $20 per share, the stock has cooled, dropping 25% to around $15 today. While Palantir is still up 136% since January, investors shouldn't get too cute. The current dip could be an excellent buying opportunity for the long-term investor.

The company's prospects and today's valuation make it a stock that should headline your watch list. I'll detail why below. 

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Source Fool.com