Could $10,000 Invested in Palantir Stock When It Went Public in 2020 Turn Into $1 million by 2030?

If you invested $10,000 in Palantir Technologies (NASDAQ: PLTR) stock when it hit the market through a direct listing roughly five years ago and held on, you would have had a holding worth about $144,630 as of the close of trading on June 14. That would far exceed the approximately $19,000 position you'd have if you'd invested that same sum in an S&P 500 exchange-traded fund. Palantir's excellent performance demonstrates the wealth-creating potential of American tech companies.That said, past performance is no guarantee of future results. To grow that stake into a $1 million position by this time in 2030, Palantir stock would have to gain 591% over the next five years, or produce a compound annual growth rate of 47%. So how likely is that to happen?Palantir's momentum can be credited to its unique business niche in big data analytics. Its software-as-a-service (SaaS) platforms analyze vast volumes of information to help clients discover actionable trends, reduce waste, and combat fraud. This technology synergizes with generative artificial intelligence (AI), and over the last three years, Palantir has incorporated large language models (LLMs) into its software to offer even faster insights. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool