Palantir stops the present: Opening Bid high takeaway

The AI commerce continues to steal the present.

Palantir (PLTR) has the hottest ticker web page on Yahoo Finance as we speak after the corporate’s stellar earnings final night time. The protection tech play broke $1 billion in gross sales in 1 / 4 for the primary time.

Co-founder and CEO Alex Karp — carrying a white T-shirt on the earnings name — signaled the AI revolution is simply starting and haters ought to take into account giving up their bear circumstances on the inventory.

“So thanks for all of our supporters, and we should always entertain questions, however this can be a once-in-a-generation actually anomalous quarter, and we’re very proud, and we’re sorry that our haters are dissatisfied, however there are various extra quarters to be dissatisfied, and we’re engaged on that too,” Karp opined.

Pouncing on the AI optimism, Financial institution of America revealed a bullish be aware on Nvidia (NVDA) weeks forward of its Aug. 27 earnings report.

Analyst Vivek Arya mentioned Nvidia’s quarterly gross sales will simply beat estimates and third quarter steerage will likely be upbeat as a result of Blackwell chip demand. If there’s a hiccup within the quarter and outlook, Arya warns it may come from China — the place Nvidia’s H20 chip could also be topic to potential safety probes by Chinese language regulators.

Arya’s $220 value goal assumes about 22% upside in Nvidia’s inventory from present ranges.

“It is actually gravity-defying how a lot capex goes into AI,” Lou Basenese, chief strategist on the Basenese Group, informed me on Yahoo Finance’s Opening Bid.

All this as traders purchase the slight dip within the markets forward of a possible Fed fee reduce in September.

However with out query, Palantir’s outcomes left a mark on the minds of traders.

Palantir cleaned up on authorities enterprise and enormous firms within the quarter.

Outcomes beat estimates and accelerated from the primary quarter. Karp took to his soapbox on the earnings name to slam critics and hype up his enterprise.

Listed here are the earnings day wins:

Gross sales up 48% from the prior 12 months.
US industrial working margins superior 890 foundation factors 12 months over 12 months.
The highest line accelerated sequentially by main enterprise phase.
Bookings progress accelerated sequentially.
Full-year gross sales steerage was raised by 6 share factors to 45% 12 months over 12 months vs. earlier expectation of 36% 12 months over 12 months. The implied fourth quarter income steerage was 10 share factors forward of consensus, implying income progress within the low-40s versus consensus expectations of 32%.