Jim Cramer on Palantir: "I Believe There'll Be Many More Pentagon Contracts Coming"

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks Jim Cramer highlighted in light of the Fed rate cut. Cramer noted that the company “makes a lot of money,” as he remarked:

“Now, I’d emphasize going after the ones that are already winning for this year. How about this one? I’m thinking of the stock of Palantir. Even when it’s already up so much, it makes a lot of money. It’s not a flier. It just got into the US Navy with a terrific contract helping to build submarines more efficiently… and much less expensively. I believe there’ll be many more Pentagon contracts coming, think surface ships, fighter planes… weapons, munitions. It wouldn’t surprise me if the whole arsenal of freedom goes to Palantir. It’s precisely the kind of stock that works in this market, the ultimate high flier that’s up huge, that you can buy it right now if you’re a money manager and show your investors that you, too, own Palantir.”

Palantir Technologies Inc. (NASDAQ:PLTR) develops data analytics and AI software platforms, including Gotham, Foundry, Apollo, and Palantir Artificial Intelligence Platform, that help organizations integrate, analyze, and act on complex data.

While we acknowledge the potential of PLTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.