ii Tech Focus: Palantir, Amazon, Tesla, Strategy, Cisco Systems

The Palantir logo on a smartphone. Photo: Jonathan Raa/NurPhoto via Getty Images.

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Palantir Technologies/AI sell-off

Shares in Palantir Technologies Inc Ordinary Shares - Class A (NASDAQ:PLTR) fell by 8% on Tuesday, sparking risk-off sentiment and declines across artificial intelligence (AI) and technology stocks. It comes after famed hedge fund manager Michael Burry revealed a $912 million (£696 million) short position again Palantir. Burry, who is depicted in The Big Short film for calling the 2008 financial crisis, is also betting against NVIDIA Corp (NASDAQ:NVDA) by purchasing bearish put options with a notional value of $187 million.

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Palantir reported a fourth-quarter revenue forecast above analysts’ expectations thanks to strong AI demand. Third-quarter earnings and revenue both came in ahead of forecasts. The data analytics company has enjoyed strong demand from government agencies. But after a surge in its share price this year, some are concerned about its lofty valuation.

The jury is out on the stock among analysts, according to Refinitiv, with a consensus hold recommendation on the stock and target price down 5%.

Meanwhile, bosses at Goldman Sachs and Morgan Stanley both said they believe that a broader stock market correction was on the way in one to two years. This echoes a similar warning from JPMorgan’s CEO Jamie Dimon in October.

Despite the market sell-off earlier this week, markets have been swift to recover, with investors taking an opportunity to buy the dip.

OpenAI/Amazon

Shares in Amazon.com Inc (NASDAQ:AMZN) posted a record high on Monday after OpenAI agreed a $38 billion deal over seven years to use its cloud services, AWS. As part of the deal, OpenAI will get access to hundreds of thousands of Nvidia graphics processors. This extends Amazon’s recent rally after shares soared on Friday when quarterly earnings and revenue topped forecasts, with a strong performance in its cloud computing division.

According to Refinitiv, there is a consensus buy recommendation on Amazon shares, with an average target price of $287.83, 15% higher than the current share price.

Tesla

Tesla Inc (NASDAQ:TSLA) shareholders voted in favour of Elon Musk’s $1 trillion pay package. It also announced that its Robotaxi service will begin rolling out in Miami, Dallas, Phoenix and Las Vegas.

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Dan Ives, head of technology research at Wedbush, said “we continue to believe that the AI valuation is getting unlocked, and we believe the march to an AI-driven valuation for Tesla over the next six to nine months has now begun”, adding “we continue to believe Tesla could reach a $2 trillion market cap early 2026 in a bull case scenario and $3 trillion by the end of 2026 as full scale volume production begins of the autonomous and robotics road map”.

According to Refinitiv, Tesla has a consensus hold recommendation from analysts. Shares have been regaining ground lately, up 56% over the past six months and up 10% year-to-date.

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Source interactive investor, 3-6 November 2025.

Strategy

Strategy Inc Class A (NASDAQ:MSTR), formerly MicroStrategy, has had a rough ride this week with shares falling over 10% across the past five trading sessions. Shares are down 40% over the past three months. BitMine Immersion Technologies Inc (AMEX:BMNR) also fell sharply by around 20% over the past five days.

Nonetheless, opportunistic interactive investor customers have been pouncing on both stocks this week. The two companies have found themselves on our list of the 10 most-bought tech stocks of the week so far.

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Both stocks are correlated with cryptocurrencies. Strategy is a bitcoin treasury company and a provider of business intelligence services, while BitMine Immersion is a blockchain technology company specialising in cryptocurrency mining and an Ethereum treasury company, holding around 3.4 million Ether, or 2.8% of the total supply.

The broader AI sell-off this week spooked the crypto complex. Since hitting a record high of $126,200 in October, bitcoin fell into a technical bear market this week, down 20% from the recent peak, below $100,000 for the first time since July. Ether slid by 9% on Monday, dropping below key support at $3,600. Longer term, however, it is up 80% over the past six months helping drive BitMine Immersion up 360% over the same period.

Week Ahead

Cisco Systems

Cisco Systems Inc (NASDAQ:CSCO) delivers Q1 fiscal 2026 results on 12 November. Expectations are high going into this earnings report after UBS raised its price target on the stock from $74 to $88, lifting its recommendation from a hold to a buy.

The company behind routers, software and services is expected to report quarterly revenue of $14.78 billion on earnings per share of 98 cents.

In August, Cisco managed to narrowly beat expectations on the top and bottom lines in the fiscal fourth quarter. Adjusted earnings per share hit 99 cents on revenues of $14.67 billion. Its AI infrastructure orders surpassed $800 million, bringing its fiscal 2025 total to more than $2 billion. It also announced AI infrastructure partnerships with BlackRock and Microsoft. Meanwhile, CFO Mark Patterson warned about a “complex environment” amid the backdrop of tariffs.

Cisco shares are up around 22% year-to-date and 20% year-on-year. According to Refinitiv, Cisco has a consensus buy recommendation from the analysts with an average target price of $77.33, up 8% from the current share price.