Palantir Technologies stocks decline!

Palantir Technologies experienced a nearly 6% decline in its trading on Tuesday in Frankfurt. This drop came after the U.S. technology group's strong quarterly report proved insufficient to extend its record-breaking rally.

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

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

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