Ignore the Anthropic Panic and Keep Buying Palantir Stock, Says Wedbush

Not so long ago, Palantir Technologies (PLTR) was one of the hottest artificial intelligence (AI) and analytics stocks on Wall Street. Investors loved the company’s story, using generative AI to grow its commercial business while also landing big government contracts. That powerful combination helped the stock stage a massive rally and become a clear favorite in the AI space. But 2026 has introduced a sharp shift in sentiment. 

Shares of Palantir have pulled back into double-digit losses year-to-date (YTD), as rising competition, particularly from AI startup Anthropic, has rattled confidence across the broader software sector. Investors are beginning to question whether Palantir’s business model can maintain its edge in an increasingly crowded and rapidly evolving AI landscape, triggering a wave of selling pressure on Wall Street. Still, the bearish narrative isn’t going unchallenged.