The Rise of Palantir (PLTR)
When it comes to the world of artificial intelligence, Palantir (NYSE:PLTR) has been quietly making waves, shedding its veil of secrecy. With its AI prowess and the success of its Artificial Intelligence Platform (AIP), Palantir has captured the attention of investors and businesses alike.
Boasting a significant backlog of boot camps, Palantir has been educating firms on the functionality of AIP. The company’s stock, currently trading at $24, has surged 190% in the year and 48% YTD, presenting an undervalued opportunity. Palantir’s recent $178 million deal with the U.S. Army to develop a next-generation targeting system underscores its growing presence in the defense sector.
Analysts are bullish on Palantir’s future, with price targets from experts like Wedbush’s Dan Ives set at $35, hailing the company as the “Lionel Messi of AI.” Meanwhile, Brian Stutland of Equity Armor Investments sees the stock reaching $37, a 57% increase from its current level.
The Ascendancy of Advanced Micro Devices (AMD)
While Advanced Micro Devices (NASDAQ:AMD) may be trailing behind Nvidia, the semiconductor company is far from being overlooked. With a 29% YTD gain and an 87% increase over the past year, AMD remains a solid investment option at its current price of $179.
AMD’s introduction of MI300X, touted as the world’s fastest AI hardware, has garnered attention, with major organizations relying on its GPUs. The company’s fourth-quarter results highlighted a 10% YOY sales increase and a 62% surge in personal computer sales, positioning AMD as a formidable competitor in the AI market.
Noteworthy price targets from analysts like KeyBanc and Melius Research further bolster AMD’s outlook, signaling potential gains ahead.
The Unstoppable Trajectory of ServiceNow (NOW)
ServiceNow (NYSE:NOW) has emerged as a powerhouse in providing organizations with AI-driven solutions to streamline workflows and enhance customer experiences. With a soaring stock price of 71% over the past year and an 11% increase YTD, ServiceNow is on track to rival Nvidia in the AI space.
The company’s collaboration with Nvidia to develop AI solutions underscores its commitment to leveraging cutting-edge technology. ServiceNow’s recent performance, including an EPS of $3.11 in the fourth quarter and a 26% YOY revenue growth, has impressed investors.
Trading at a premium, ServiceNow’s first-quarter results are anticipated to further drive its stock higher, sustaining its upward momentum in the market.