Palantir (PLTR) Deemed A Buy By June 2026

Palantir Has A Real Moat

I would argue that, at least for now, Palantir is one of the few companies in the AI space with a real moat.

The market right now is chasing the hardware layer, semiconductors, but this market is clearly becoming saturated.

First, it was just Nvidia (NVDA), but now Advanced Micro Devices (AMD) Intel (INTC) and even the hyperscalers like Alphabet (GOOG)(GOOGL) are making their own chips.

The neoclouds are also being bid up, but again, this is becoming increasingly competitive. Even a shoemaker like Allbirds (BIRD) is joining in on the fun.

Yes, there are bottlenecks, and demand is outbidding supply. But I’d argue that few of these companies have a real moat.

What Palantir has built is fundamentally different.

The company is not competing at the hardware layer or even purely at the model layer. It sits above both, acting as the orchestration, governance, and operational infrastructure that allows AI to function reliably inside real institutions.

While AI models may become increasingly commoditised, and compute demand eventually catches up, Palantir has what businesses are missing.

The ability to integrate fragmented enterprise data, deploy AI securely across sensitive workflows, and create systems that organizations can actually trust.

The key, as always, is Palantir’s Ontology, together with the years of embedded relationships the company has in government and enterprises.

Palantir is becoming less like a traditional SaaS company and more like a digital OS for critical institutions.

Thesis Summary

Palantir (PLTR) has been left behind in this latest AI rally, and that doesn’t make sense.

While investors chase overly crowded markets like semis and hyperscalers, Palantir has a real AI moat and is delivering incredible growth across the board.

For the first time in a while, Palantir trades at an attractive PEG, and it's just a matter of time before the stock recovers to all-time highs again.

I stand by my last analysis, which is now reinforced by the Q1 earnings.

Palantir Q1 Overview

Palantir delivered what was arguably one of the strongest quarters in its history. Revenue grew 85% YoY to $1.63 billion, and adjusted operating margins reached 60%.

The key thing to understand here is that this was not driven by one-off government wins alone.

The real growth is coming from the continued acceleration in U.S. commercial revenue, which surged 133% YoY to $595 million.

It confirms what we’ve already known for a few quarters. AIP is offering real value to large enterprises.

And the strength in revenues is also reflected in the profitability.

Adjusted free cash flow came in at $925 million, a 57% margin, while GAAP Operating Income grew 46%.

Perhaps the biggest win this quarter, however, was guidance.