Jim Cramer Defends Palantir Amid Post-Earnings Sell-Off
CNBC's Jim Cramer remains bullish on Palantir Technologies (PLTR) despite an 8% sell-off following its Q3 earnings report. The Mad Money host dismissed short-term volatility, emphasizing CEO Alex Karp's leadership and the company's AI-driven growth potential. His price target hike to $200 reflects this conviction.
Market reaction defied fundamentals—Palantir beat expectations and raised guidance, buoyed by strong adoption of its Artificial Intelligence Platform. The decline coincided with Scion Asset Management's bearish put options on PLTR and AMD, creating unwarranted pressure on the stock.
Cramer framed Palantir as a misunderstood hybrid operating across tech, defense, and consulting. "This isn't a valuation problem," he noted, "but a classification challenge." The stock's complexity demands investor patience as the market properly assesses its cross-sector potential.
