Many tech trends are under way today that will lead to big growth, especially when looking past today’s weak economy. One of those trends is big data, which looks at data sets too large and complex to be reviewed manually.
Big data is already allowing companies to find new ways of doing business, with substantial improvements already. Yet the real value of that will only compound in time.
One leader in the space is Palantir Technologies (PLTR). Like most tech plays, it’s taking a dive right now, with shares down nearly two-thirds from their peak last year. However, the company is continuing to book new customers, and has seen revenue rise by 31 percent in the past year.
Action to take: Shares will be worth far more as the company ramps up to profitability, which may still be a ways off. But as a growing leader in a still misunderstood niche in the tech market, the stock will likely surpass its old highs in time. Investors shouldn’t expect a dividend from this growth play anytime soon.
For traders, the September $10 calls are reasonably priced at $0.75. Traders can likely see mid-double-digit gains or better on a move higher in shares from here in the coming months.
Disclosure: The author of this article has a position in the company mentioned here, and may further trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.