Palantir Technologies (NYSE:PLTR) stock has been on a tear in the last 12 months, up almost 192%. Still, Palantir stock deserves more love as the company’s AI business continues to gain traction amid favorable macroeconomic trends. The company’s aggressive expansion into commercial capabilities is likely to accelerate revenue growth, paving the way for robust earnings growth. I am bullish on Palantir, as there is compelling evidence to suggest that the company is just getting started.
The Commercial Expansion Is Gaining Momentum
In Q4 2023, Commercial revenue grew 32% year-over-year (YoY) to $284 million, while Government segment revenue grew 11% YoY to $324 million. Although the Government segment still accounts for the bulk of revenue, the Commercial segment continues to grow at much higher rates, indicating the strong momentum behind this business segment. This stellar growth is coming on the back of the success of its AI…
