Palantir's recent stock surge is overdone, says Goldman Sachs. While AI has fuelled a demand for companies focused on the technology, the investment bank believes the rally is unjustified. Their analysts argue AI is just an extension of Palantir's existing data analytics work, not a substantial change in strategy or take-up. However, the firm still sees AI as a future tailwind, which could help drive growth. Goldman Sachs has raised Palantir's price target to $10 per share but warns that it signals a downside risk of almost 35% from current levels.
Analysts predict a potential ChatGPT moment for Tesla, akin to Nvidia's exponential growth after an AI surge. One way to spur Tesla's momentum is by adjusting the price of its costly full self-driving software, which could incentivize more customers to buy and generate excitement for the company. Canaccord's analyst rates Tesla shares as a Buy with a $257 target price for the stock.
AI stocks lose momentum after significant market gains - C3.ai and Nvidia's stock prices decline, exposing major indexes to basic matters. Sponsored by ARK Invest.
Explore the evolution of tech policy from Obama's optimism to Harris's vision at the Democratic National Convention. What's next for Democrats in tech?