Palantir Was the Top-Performing Stock in the S&P 500 in 2024. But This Other Artificial Intelligence (AI) Powerhouse Has Been the Best S&P 500 Stock Over the Last 2 Decades.

Following a terrific performance in 2023, the S&P 500 and Nasdaq Composite posted another year of generous gains in 2024. Among the market's biggest gainers over the last two years have been megacap technology stocks -- collectively referred to as the "Magnificent Seven."However, last year a smaller player actually outperformed each and every one of its peers by a considerable margin. In 2024, shares of data analytics firm Palantir Technologies (NASDAQ: PLTR) soared by 340% -- making it the top performer in the S&P 500 index.With that said, Palantir's soaring share price has resulted in some considerable expansion of its valuation. By most traditional valuation metrics, Palantir stock should be considered pricey and overbought at the moment.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool