Shares in Palantir Technologies dipped Friday, although the technology-heavy Nasdaq composite gained. Palantir stock is on track to post a gain for the week amid volatile trading tied to President Donald Trump's trade tariffs.
On the stock market today, Palantir stock fell nearly 2% to 86.94 in midday trading. For the week, Palantir was on track to gain about 17%. But Palantir stock trades below its 50-day moving average, a key technical level.
So far in 2025, Palantir stock has advanced nearly 15%. However, shares are down over 30% from an all-time high of 125.41 on Feb. 19.
Meanwhile, the iShares Expanded Tech-Software ETF — composed of many of the major enterprise software players — is down 10% in 2025.
One concern for Palantir stock has been possible Department of Defense budget cuts and exposure to U.S. Army contracts.
Palantir has provided data analytics tools to government customers for intelligence gathering, counterterrorism and military purposes. Now Palantir aims to use generative AI to spur growth in the U.S. commercial market, such as health care and financial services.
Further, Palantir is among AI stocks to watch.
Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
