--- type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/40455653.md" description: "PLTR's earnings report continued its streak of beating expectations for 10 consecutive quarters, with strong growth in US customers and the launch of AI FDE on the product side, achieving a peak in revenue per employee in the US market. There's nothing to worry about fundamentally. I'd like to discuss the phenomenon I've observed from the perspective of institutional holdings and capital rotation:Starting from Q1, PLTR's institutional holding ratio stabilized after nearly five years of growth and saw a significant decline in Q2. This coincided with the suppression of software stock valuations since early '26 and the continuous surge in AI hardware like storage. The decline in PLTR's institutional holdings also represents active funds reducing their weight and allocation to the software sector. In terms of trading volume, last year TSLA, NVDA, and PLTR were regulars in the top 5 for trading volume. Now, the top trading volume spots have become Micron and SanDisk. If the market was still skeptical in Q1, then by Q2 institutions had already started to FOMO. At the same time, as the market capitalization of the storage hardware sector grew, it also increased the companies' weight in the Nasdaq 100 and S&P 500. During the next index rebalancing, this will bring more passive index-following capital inflows. Once this sector trend is established, it won't be easily reversed. Against this backdrop, even the best performance by individual software stocks is placed in a challenging context. This is the awkward current situation for software stocks.However, PLTR is different from ordinary software stocks. PLTR has unique irreplaceability. Even with the current sector rotation, I have no doubt about PLTR's potential to surge towards a trillion-dollar market cap in the future. Karp once said in the 2024 shareholder letter: "All of the value in the market is going to go to chips and what we call the Ontology." Hardware still needs software to land in commercial scenarios to realize broader business value. In the wave of AI, I believe the two are spiraling upwards. This is the logic behind why I remain bullish on PLTR.$Palantir Tech(PLTR.US)" datetime: "2026-05-06T05:15:07.000Z" locales: - [en](https://longbridge.com/en/topics/40455653.md) - [zh-CN](https://longbridge.com/zh-CN/topics/40455653.md) - [zh-HK](https://longbridge.com/zh-HK/topics/40455653.md) author: "[lyhalfway](https://longbridge.com/en/profiles/3372973.md)" --- # PLTR's earnings report continued its streak of bea… ### Related Stocks - [513110.CN](https://longbridge.com/en/quote/513110.CN.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [SPY.US](https://longbridge.com/en/quote/SPY.US.md) - [VOOG.US](https://longbridge.com/en/quote/VOOG.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md) - [PLTR.US](https://longbridge.com/en/quote/PLTR.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [NVDL.US](https://longbridge.com/en/quote/NVDL.US.md) - [07788.HK](https://longbridge.com/en/quote/07788.HK.md) - [07388.HK](https://longbridge.com/en/quote/07388.HK.md) - [NVDY.US](https://longbridge.com/en/quote/NVDY.US.md) - [NVDD.US](https://longbridge.com/en/quote/NVDD.US.md) - [NVDX.US](https://longbridge.com/en/quote/NVDX.US.md) - [NVDQ.US](https://longbridge.com/en/quote/NVDQ.US.md) - [TSDD.US](https://longbridge.com/en/quote/TSDD.US.md) - [TSLL.US](https://longbridge.com/en/quote/TSLL.US.md) - [TSLQ.US](https://longbridge.com/en/quote/TSLQ.US.md) - [09366.HK](https://longbridge.com/en/quote/09366.HK.md) ## Comments (12) - **我的小钱钱 · 2026-05-06T06:55:33.000Z**: Now it's become the Cow Lady🤣 - **Jylar · 2026-05-06T06:29:24.000Z · 👍 1**: Long-term bullish. The main confidence is still that the US government can't do without it. - **知行合一再投资 · 2026-05-06T06:17:06.000Z · 👍 2**: Long-term bullish - **躺平致富经 · 2026-05-06T05:52:58.000Z**: Moved some from hardware to build an observation position in application-related sectors - **吉姆哈克的交易员 · 2026-05-06T05:33:58.000Z · 👍 5**: I will break down PLTR into two valuation frameworks.The first framework: the traditional SaaS framework.In this framework, PLTR is outrageously expensive. With over 45x forward sales, more than 300x P/E, any slowdown in growth, decline in margins, changes in contract pace, or government budget disr - **lyhalfway** (2026-05-06T05:41:44.000Z): Both ToB and ToG are not just about storytelling; they have substantial performance to back them up. Many clients also highlight their collaboration with PLTR as a key point of AI transformation durin - **吉姆哈克的交易员** (2026-05-06T05:42:42.000Z): I'm also leaning towards the second option, but it seems hardware will remain strong for quite a while yet 🥲 - **lyhalfway · 2026-05-06T05:25:55.000Z · 👍 1**: Under the AI wave, hardware and software are spiraling upward. - **AI飞龙在天 · 2026-05-06T05:22:18.000Z**: Way bro, PLTR's earnings beat expectations, but falling this much is really beyond expectations🥲. Recent gains are almost all gone, still struggling with whether to hold on or not… - **lyhalfway** (2026-05-06T05:23:27.000Z): There's no problem holding the underlying stock for the long term. - **AI飞龙在天** (2026-05-06T05:28:13.000Z): Hmm, thanks way bro - **双木掌柜的铺子 · 2026-05-06T05:18:32.000Z**: The arm can't twist the thigh.