Since Election Day, the top 10 S&P 500 stocks have surged by 18% or more, with Axon Enterprise and Tesla leading the pack with gains over 35%. This momentum is attributed to anticipated Trump administration policies favoring deregulation and mergers, alongside strong earnings reports, particularly in AI-driven sectors. Investors are advised to be cautious, as short-term price movements can be risky without understanding the underlying factors.
Palantir Technologies reported strong third-quarter results, with a 30% year-over-year revenue growth to $726 million, surpassing expectations. CEO Alex Karp highlighted a surge in AI demand, particularly from U.S. government clients, and raised the company's 2024 revenue guidance to $2.805 billion to $2.809 billion. Despite challenges in international markets, Palantir's shares soared 13% in after-hours trading, reflecting a 141% increase for the year.
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