Jeff Bezos Just Humiliated Elon Musk
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It's no secret since their initial meeting in 2004… Jeff Bezos and Elon Musk have been involved in a bitter rivalry… From their public battles over the space race, electric cars, and who was worlds the richest man… For going on two decades now–Bezos and Musk have been at each other's throats… But what happened on December 31st 2021, just took this feud to an entire new level… Although the media barely covered it… That was the exact day Bezos made a massive bet on the most powerful technology in history… A technology Bank of America predicted would be,“Bigger than fire and bigger than all the revolutions that humanity has seen.“ And before you start guessing, this has nothing to do with ChatGPT or A.I… Instead, Bezos bet huge on a little known technology that's going to prove far more disruptive…And in the process is going to make Jeff Bezos the richest person in history… Make no mistake, the rivalry between Elon Musk and Jeff Bezos is over… And Bezos won. Sounds crazy, but I've put together a brand new video that explains everything… Go here now to get the full details.
By Larry Ramer, InvestorPlace.com
- Palantir (PLTR) stock is sinking sharply in early trading after the company reported higher-than-expected revenue and in-line earnings per share.
- The firm slightly raised its 2024 revenue guidance, but the midpoint of the range came in slightly below analysts’ average estimate.
- The valuation of PLTR stock is very high, and it is facing a great deal of competition.
Palantir’s (NASDAQ:PLTR) first-quarter revenue exceeded analysts’ average estimates, and the firm even slightly raised its full-year sales guidance range. However, PLTR stock is tumbling 13% in early trading.
Some on Wall Street are saying that this is a sign that expectations have been too lofty for artificial intelligence (AI) companies. However, evidence suggests that many investors had unrealistic hopes for Palantir, while many other AI stocks are better positioned than Palantir.
Palantir provides data-analysis tools and has built a platform that allows its customers to easily utilize AI.
Palantir’s Q1 Results
Palantir’s revenue from U.S. companies climbed 32% versus the same period a year earlier. However, that was down from the 70% year-over-year increase in the same category that the company had generated in Q4.
Meanwhile, the firm slightly increased its full-year sales guidance range to $2.677 billion – $2.689 billion from its prior outlook of $2.652 billion – $2.668 billion. As a result the midpoint of its guidance range rose to $2.68 billion. However, on average, analysts were expecting the company’s 2024 top line to come in at a slightly higher $2.71 billion.
For Q1, the company’s revenue came in at $608 million, versus analysts’ average estimate of $603 million. On the other hand, Palantir generated earnings per share of 8 cents, excluding some items. The latter figure aligned with analysts’ mean outlook heading into the print.
PLTR Stock: Is This the End of the AI Stocks Rally?
Palantir last year developed a platform that helps government agencies and companies easily integrate AI into their businesses Yet many other firms, such as Accenture (NYSE:ACN), Booz Allen (NYSE:BAH), IBM (NYSE:IBM) and C3.ai (NYSE:AI), are also assisting government agencies and/or private firms with that task.
Consequently, I’ve long viewed the exuberant enthusiasm that many on the Street have had towards Palantir as overdone. Further, heading into today, its forward price-earnings ratio was a very high 81 times, and its price/sales ratio was an extraordinarily elevated 26 times.
Conversely, firms that have developed AI chips and unique AI services for certain sectors tend to face much less competition than Palantir because they have created their products over the course of many years. And cloud-infrastructure giants such as Microsoft (NASDAQ:MSFT) have huge, existing customer bases to which they can sell AI products, while their valuations are much lower than Palantir’s.
Given these points, I don’t believe that today’s retreat by PLTR stock indicates that the rally of AI names has ended.
Jeff Bezos Next Trillion Dollar Bet (Shocking)
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If you've followed Jeff Bezos you know he's made a career out of spotting breakthrough technology long before his competitors… Whether it was the internet in 1994… Cloud computing in 2006… Or Alexa and A.I. in 2014… Bezos made himself the richest man in the world by looking around corners and spotting trends years ahead of everyone else… And on December 31st, 2021, Bezos has done it again… He's gone all in on the biggest tech breakthrough in history… And before you start guessing, this has nothing to do with A.I. or ChatGPT… Instead, it has to do with a technology Bank of America called, “Bigger than fire and bigger than all the revolutions that humanity has seen.” And this technology is going to change everything… 99% of Americans have no idea of what's about to happen… But I've put together a full presentation to explain what's going on… Go here now to see the full details.
