58 stocks in the S&P 500 do less than $1 billion in quarterly revenue. None of them look anything like Palantir.
Taking stock of Palantir’s latest rise.
Palantir’s business, at first glance, doesn’t scream excitement. Originally a government-focused, defense-tech data analytics firm, the company has, in the last 18 months especially, transformed into a retail investor darling.
With its Artificial Intelligence Platform riding the AI wave, the company became the S&P 500’s best-performing stock last year — just months after debuting in the index. And 2025 is already off to a hot start, as Monday’s blowout results, in which Palantir reported revenue of $828 million, sent shares soaring another 24%, capping a staggering surge of more than 500% over the past 12 months — a rise that means PLTR increasingly looks nothing like its peers of a similar size.
Sizing up
Indeed, there are 58 stocks in the SPDR S&P 500 ETF that reported less than $1 billion in net sales (per FactSet data) in their latest quarter. Here are 57 of them:
But while some analysts hail Palantir Technologies as a once-in-a-decade tech stock, others can’t get past its sky-high valuation, which may prove impossible to justify over time without remarkable execution. Indeed, Palantir isn’t just expensive in the typical “growth stock” way — it’s an outlier in the true sense of the word.
As Palantir continues defying gravity, the question remains: is it truly a “transformational” AI powerhouse, or an overpriced bet that may never fully materialize? For now, the market is saying it’s the former.
Go Deeper: The weirdest, best, and most unhinged quotes from Palantir’s Q4 earnings call.
