From Nasdaq: 2024-09-19 15:46:24

The AI market is projected to grow into trillions of dollars with transformative effects on various industries. Growth stocks like Palantir (PLTR) and Soundhound AI (SOUN) have seen significant stock price appreciation due to strong earnings in the AI sector. Analysts recommend holding on to these stocks for long-term growth potential.

Palantir Technologies (PLTR) is known for its data analytics and AI platforms, generating high-margin revenue from government and commercial contracts. The company saw a record profit of $0.06 per share in Q2, with plans to report profits for the rest of 2024. With a strong cash position and consistent revenue growth, Palantir remains a solid long-term investment.

SoundHound AI (SOUN) offers voice recognition solutions across industries. Despite being unprofitable, the company saw total revenue rise by 54% to $13.5 million in Q2. Strategic acquisitions and a strong balance sheet are driving expected revenue growth of $150 million by 2025. Analysts rate SOUN stock a “strong buy” with significant upside potential.



Read more at Nasdaq: 2 Soaring Growth Stocks I’d Buy and Hold Forever