Nvidia and Palantir: Tech Stocks on the Rise
Nvidia (NASDAQ: NVDA) has grown to a market capitalization of $4.2 trillion and is on track to potentially reach $5 trillion with a projected 19% increase. Palantir Technologies (NASDAQ: PLTR) has seen its market cap rise to approximately $360 billion, with a gain of over 2,000% since 2023. Both companies have garnered substantial attention from investors, with Nvidia specializing in AI chips and Palantir providing data analytics solutions.
As of 2023, both stocks have risen more than 1,000% each, with Palantir’s impressive annual growth of around 430%. Analysts predict Palantir’s revenue will reach $3.9 billion in 2024, up 36% from the previous year, yet its valuation appears speculative with a forward P/E ratio of 260, while Nvidia’s forward P/E is reported at 38.
Analysts suggest that Nvidia is more likely to reach its $5 trillion milestone before Palantir attains $1 trillion, primarily due to Nvidia’s solid fundamentals and dominant market position in AI.
