Palantir’s Potential
A soft CPI reading for May sparked a surge in U.S. equities, paving the way for short-term wins. One stock on the radar is Palantir (PLTR), a data analytics company co-founded by Peter Thiel. Despite recent volatility, Palantir has rallied about 37.3% year-to-date, thanks in part to the introduction of its AI Platform (AIP) in 2023, which showed promising results for its commercial business. The company’s long-term performance hinges on the success of AIP, with recent CPI data poised to inject momentum into the stock.
Tesla’s Turbulent Ride
Tesla (TSLA) has faced a challenging year, with a 27% decrease in its share price since the beginning of 2024. Amid warnings from CEO Elon Musk about slowing growth, Tesla reported an 8.5% drop in vehicle deliveries in Q1 2024. The EV giant is grappling with fierce competition from Chinese rivals like BYD, Li Auto, and Xiaomi. Despite these setbacks, signs of easing inflation could help Tesla stage a recovery, leveraging its brand recognition and the influx of retail investors eyeing short-term gains.
Apple’s Innovation Play
Apple (AAPL) is another tech heavyweight that faced a sluggish start in 2024, marked by a 15% share price decline. Challenges in China and a saturated handset market have weighed on the company’s growth. However, Apple’s recent partnership with OpenAI and the unveiling of new AI-driven features at the WWDC have injected fresh optimism. The iPhone maker’s stock surged over 7% post-announcement, signaling potential near-term gains amidst a more favorable macroeconomic landscape.