20 High Growth Mega Cap Stocks You Can Buy And Hold For Next 5 Years

3. Palantir Technologies Inc.(NASDAQ:PLTR) 

Palantir Technologies Inc. is a developer and deployer of software platforms for big data analytics. It serves different industries including intelligence & defense, healthcare, and commercial. The company has grown its revenue by 31.48% over the last 5 years.

Panatir was the best performer in the S&P 500 last year and is on course to repeat the same this year but a sell-off in the last 3 days, where the stock has lost 23% of its value, has spooked investors. We believe this is a great opportunity to take a position in the stock which by all measures is overvalued, but for good reasons.

The stock’s market cap is currently $230 billion but it is already being touted as the next trillion-dollar company. Wedbush analyst Dan Ives, who believes the era of AI software has finally arrived and Palantir is set to be the beneficiary, is particularly bullish on the company’s long-term prospects:

The AI Software era is now here in our view. We believe the two best software plays on the AI Revolution for 2025 remain Palantir and Salesforce.

Ives believes people are underestimating the amount of capex that will go into building AI use cases. The hyperscalers take all the attention for now but once companies start working on building AI use cases together with the government, we could see a once-in-a-generation type of spending that could amount to $2 trillion in the next 3 years! The current dip provides the perfect opportunity to take a position in the stock.