Published On Nov 5, 2024, 10:49 AM
Palantir Technologies experienced a significant rise in stock prices following a positive earnings report, which was largely driven by increased spending from the Department of Defense. The company's ability to secure government contracts has led to a substantial earnings beat, indicating strong demand for its data analytics services in the defense sector.
With the ongoing emphasis on defense spending in the U.S. and government reliance on data-centric solutions, Palantir is well-positioned for future growth. Its focus on strategic partnerships and government contracts suggests a trajectory of increased revenue, especially within the defense sector.
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Fitz-Gerald Group Chief Investment Officer Keith Fitz-Gerald makes his case for Palantir Technologies and explains how investors can navigate rising interest rates on 'Varney & Co.'