Palantir Technologies (PLTR) is an artificial intelligence (AI) company that builds and deploys software to aid in countering terrorism, stopping crime, and helping governments and private enterprises sort through vast quantities of data.

Wall Street expects Shopify's adjusted earnings to increase at 25% annually through 2025. That makes the current valuation of 94 times adjusted earnings look rather expensive, but patient investors comfortable with volatility can still purchase a small position today. Shopify has reported above-consensus earnings for eight straight quarters.

A rate-cutting campaign by the Federal Reserve, a resilient economy and strong corporate earnings provided another solid backdrop for the stock market in 2024. After a stellar 2023, it was a great year for growth stocks in the software space like Palantir Technologies and AppLovin after the S&P 500 and Nasdaq composite confirmed new uptrends in early November 2023 with one-day gains of more than 1.

Palantir reported strong financial results for the third quarter, beating estimates on the top and bottom lines. Its customer count rose 39% to 629, and the average existing customer spent 18% more. Revenue increased 30% to $726 million, marking the fifth consecutive acceleration, and non-GAAP net income increased 42% to $0.10 per diluted share.

With AI as a key market driver, Palantir, AppLovin and Astera Labs made this list of the 100 best stocks. Cava also got a seat at the table.

Shares of Palantir have gained almost 380% this year, and they could still rocket higher by the end of the year.

Wedbush analyst Dan Ives is a big fan of tech stock Palantir ($PLTR). In fact, he even called it the “Messi of AI” (referring to the