被大空头狙击的明星AI股Palantir，华尔街怎么看

Core Viewpoint - The recent surge in skepticism regarding artificial intelligence (AI) has led to a decline in major stock indices, with the S&P 500 down 1.6% and the Nasdaq down 3%, marking the worst weekly performance since April [1] Group 1: Market Performance and Reactions - The stock prices of AI-focused companies Palantir and Nvidia have faced significant short-selling pressure, with Palantir experiencing a maximum drawdown of approximately 18% and Nvidia 16% from their highs, contributing to the overall poor performance of tech stocks [1] - Despite Palantir's stock price increasing nearly 200% over the past year, its static price-to-earnings (P/E) ratio reached as high as 1000 times, raising concerns about its valuation amidst strong growth in AI and data analytics [2] - Following a strong third-quarter earnings report, Palantir's stock saw a decline of nearly 9% as investors took profits, despite the company reporting revenue of $1.181 billion, a 63% year-over-year increase, and adjusted net income of $477 million, up 220% [2] Group 2: Valuation Concerns - Analysts have raised concerns about Palantir's valuation, with reports indicating that its valuation is over 200 times expected earnings for 2025 and sales multiples exceeding 80 times [2] - The company has adjusted its revenue expectations for 2025 from approximately $4.14–4.15 billion to about $4.4 billion, projecting an average annual revenue growth of around 25% and an earnings per share (EPS) growth of approximately 26%–30% [4] - Despite the strong growth projections, the high valuation poses challenges for Palantir to reduce its P/E ratio from 80 times to a more typical range of 30-40 times, which could take around three years [5] Group 3: Institutional Perspectives - Amidst market pessimism, some investment banks have raised their target prices for Palantir, with Bank of America increasing its target from $215 to $255, citing Palantir's unique AI solutions and strong growth in both government and commercial sectors [4] - In contrast, Citigroup maintains a neutral stance with a target price of $190, acknowledging the strong quarterly performance but highlighting the high expectations and extreme valuation reflected in the post-earnings stock price movement [4] - Overall, institutional sentiment remains cautiously optimistic about tech stocks, with expectations for a year-end "Santa Rally" despite recent volatility [6][7]