华尔街观察|被大空头狙击的明星AI股Palantir，华尔街怎么看

Core Viewpoint - The skepticism surrounding AI investments is intensifying, with concerns about high spending and low returns, leading to significant declines in major indices like the S&P 500 and Nasdaq [1] Group 1: Market Performance and Reactions - The S&P 500 index fell by 1.6% and the Nasdaq index dropped by 3%, marking the worst weekly performance since April [1] - Short selling of AI stocks, particularly Palantir and Nvidia, has heightened market panic, with Palantir and Nvidia experiencing maximum drawdowns of approximately 18% and 16% from their highs [1] - Despite strong quarterly earnings, Palantir's stock saw a nearly 9% drop as investors took profits [3] Group 2: Company Performance and Valuation - Palantir's stock price surged nearly 200% over the past year, with a static PE ratio reaching as high as 1000 [3] - The company reported Q3 revenue of $1.181 billion, a 63% year-over-year increase, and adjusted net profit of $477 million, up 220% year-over-year, exceeding expectations [3] - Palantir's valuation is considered extremely high, with reports indicating a PE ratio exceeding 200 times projected earnings for 2025 and a sales multiple over 80 times [3][5] Group 3: Analyst Opinions and Target Prices - Amid market pessimism, Bank of America raised Palantir's target price from $215 to $255, citing the company's strong growth and unique AI solutions [5] - Citigroup maintains a neutral stance with a target price of $190, acknowledging strong quarterly performance but highlighting extreme valuations [5] - Palantir's revenue forecast for 2025 was raised to approximately $4.4 billion, with expected annual revenue growth of about 25% and EPS projected to grow at a compound annual growth rate of 26%-30% [5] Group 4: Market Sentiment and Future Outlook - Despite recent volatility, institutions remain optimistic about the tech sector, anticipating a "Santa Claus rally" by year-end [8] - Goldman Sachs noted that the recent market fluctuations are primarily due to profit-taking, with core drivers like financial conditions and economic growth still supporting upward price trends [8] - Morgan Asset Management emphasized that while there are doubts about the AI market, the overall narrative remains intact, suggesting that market adjustments could attract long-term investments [8]