Even with Palantir's recent success, there's no way to logically justify its valuation. It has become increasingly disconnected from reality, even by tech growth stock standards, which are known for stretched valuations as investors anticipate rapid earnings growth.

Palantir Technologies stock (NASDAQ: PLTR) has had a remarkable run this year, more than doubling since early January to trade at around $160 per share. The stock has been buoyed by surging interest in generative AI and a wave of new government contracts following the re-election of Donald Trump as U.

Dealing From a Position of Strength Palantir Technologies (NASDAQ:PLTR) has solidified its position as a leader in the artificial intelligence (AI) and data analytics space with its latest quarterly results.