Palantir (PLTR) stock is red hot to end the week, touching a new all-time intraday high of $85.22 on Jan. 31. This comes as investors anticipate its fourth-quarter earnings release on Monday, Feb. 3.

Palantir consistently positions itself as a leader in enterprise-level artificial intelligence. It has also secured strong federal contracts while also benefiting from robust defense spending. One has to assume that the current administration should be net favorable for PLTR stock, making it a worthwhile opportunity.

If you had invested $25,000 in Palantir Technologies (NASDAQ: PLTR) stock at the start of 2024, you would have finished the year with more than $110,000. Last year was a significant one for the business as it solidified itself as a top growth stock.

Palantir stock price has done well and is one of the best performers on Wall Street, helped by the ongoing artificial intelligence tailwinds. It has jumped by over 400% in the last 12 months, transforming it into a company valued at almost $200 billion.

Palantir Technologies (PLTR 1.83%) stock was one of the top performers on the stock market in 2024, jumping 340% in 2024. The defense tech stock was fueled by a ramp in revenue gr