As Palantir Technologies fires up — and fires back on a negative report on its prototype battlefield communications network — the artificial intelligence powerhouse leads a slew of stocks to watch in or near a buy zone. Palantir stock earns a spot on the Investor's Business Daily Leaderboard, alongside DoorDash, Emcor, GE Vernova, Vertiv and Howmet Aerospace.
Showing the continued strength of AI stocks within the market indexes, an additional nine IBD Leaderboard components have already climbed out of buy range, including Alphabet, AppLovin, Broadcom and Micron Technology. But AppLovin stock sold off hard Monday on reports of a Securities and Exchange Commission, or SEC, investigation into its data collection practices.
Palantir Stock Leads Breakout Brigade
With the Nasdaq at record highs, tech stocks continue to shine. Rebounding from Friday's sell-off, Palantir stock has bounced off its 21-day exponential moving average. Shares also stand poised to retake a buy zone in a late-stage cup with handle.
Featured in the IBD Stock Analysis on Sept. 26, Emcor popped into a buy zone Monday from a 667.64 buy point in a flat base. Fellow AI infrastructure stock Vertiv has climbed out of buy range. Vertiv was profiled last week as it blasted out to a new high.
Delivering on a breakout at the end of last month, DoorDash has jumped to the top of a buy range of 269.06 to 282.51.
Highlighted in this column last week, GE Vernova continues to work on a second-stage consolidation. Meanwhile, defense stock Howmet Aerospace looks to retake the 193.26 buy point it cleared in late September. It continues to hold support at its 21-day line.
Tesla And This AI Infrastructure Stock Drive Watchlist
Five stocks currently make up the IBD Leaderboard watchlist. Two of the names — Tesla and Robinhood — have climbed beyond their ideal buy ranges.
Enterprise software firm Snowflake continues to work on a 249.99 buy point in a flat base.
After initially breaking out last week, AI infrastructure stock Quanta Services is floating right around a 424.94 buy point.
Meanwhile, rounding out the watchlist, fintech Dave is fighting to get back above its 50-day moving average.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
