Was Jim Cramer Right About Palantir Technologies Inc. (PLTR)?

We recently published a list of Was Jim Cramer Right About These 11 Stocks? In this article, we are going to take a look at where Palantir Technologies Inc. (NASDAQ:PLTR) stands against other stocks that Jim Cramer discusses.

A caller asked about Palantir Technologies Inc. (NASDAQ:PLTR), focusing on its commercial and military applications. Cramer replied:

“Palantir’s got good commercial and good military. They want to emphasize the commercial. I think it’s fine. When it comes to cybersecurity, I am partial to Palo Alto even down here.”

Cramer’s comparison wasn’t exactly the best, as Palantir surged by 495.13% while Palo Alto is up significantly less. Palantir Technologies Inc. (NYSE:NASDAQ) is expanding its AI-powered data platforms across government and enterprise clients, with a growing backlog of defense-related contracts.

Despite the stock’s continued outperformance, Cramer remains unimpressed. Heres’ what he said earlier in May:

“The ultimate meme stock for the moment is this company called Palantir, which reports. It’s a cybersecurity company. Now this one’s moved up by persistent retail buying that starts around 4:00 AM every day when they literally walk it up a couple of points before the bell and then continue to keep it at that level until the close.

It’s possible the story’s not as big as the hype or the hope, but we know that Palantir’s got a constituency of retail buyers that just won’t quit. I don’t know if they’ll quit when they see the number.”

Overall, PLTR ranks 1st on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of PLTR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PLTR and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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