Palantir Technologies Shares Decline!

Palantir Technologies experienced a nearly 6% drop in Frankfurt trading on Tuesday. This decline came after the U.S. technology group's strong quarterly report fell short of extending its record-breaking surge.

Palantir forecasted on Monday that its fourth-quarter revenue would exceed analyst estimates during a period in which it has doubled its value this year. The increase in demand for the company's data-driven analytical services is supported by the rapid adoption of artificial intelligence applications.

As of 07:05 GMT, Palantir shares fell by 5.8%. Other major technology companies faced similar situations, with Nasdaq futures showing a sharp decline of 1.3%.

Shares of the companies known as the 'Magnificent Seven' trading in Frankfurt—Meta, Tesla, Alphabet, Amazon, Nvidia, Apple, and Microsoft—lost between 0.9% and 2.6% in value.