Palantir’s Commercial Sales Top Government Revenue as Apple Reports $114.5B, Shaping Wall Street Today

• Palantir stock and Apple stock drew attention as Apple shares reacted to Q4 earnings and Palantir commercial revenue surpassed government sales for the first time
• Palantir AI revenue growth supported a 96% year-over-year increase in total revenue to $2.31 billion
• Apple reported $114.5 billion in Q4 revenue, with iPhone sales reaching $57.6 billion and Services revenue hitting $31.6 billion

Palantir and Apple drew attention on Wall Street after releasing their quarterly reports on Monday, November 2. Palantir reported a sharp increase in revenue as demand for its AI software grew, while Apple posted quarterly revenue of $114.5B, putting tech stocks into focus again. Why are these two stocks trending again?

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Palantir Commercial Revenue Surpasses Government Sales

Palantir stock fell around 3% in extended trading after the company released its quarterly report. The numbers released showcased steady growth, with Palantir reporting revenue of $2.31B, up 96% YoY and above the Wall Street estimate of $2.18B. The biggest change that needs to be focused on here is the revenue mix. Palantir commercial revenue in the US rose 148% YoY to $984M. This figure surpassed US government revenue, which hit $953M after growing 96%.

This was the first time in the company’s history that its US commercial revenue surpassed its US government revenue.

That being said, demand for Palantir AI software has been supported by businesses across the board. The company also raised its 2026 full-year revenue outlook to approximately $8.53B and expects fourth-quarter revenue to reach around $2.65B.

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Apple Reports $114.5B in Q4 Revenue

At the same time, Apple stock has also come into focus, with the company announcing its fiscal fourth-quarter revenue of $114.5B. Diluted earnings per share reached $2.10, rising 14% YoY. The company also reported a September-quarter record for iPhone revenue and an all-time high for Services revenue.

iPhone revenue came to around $57.6B, up 17% from a year earlier. Meanwhile, Services revenue reached $31.6B, increasing 10%. Mac revenue also increased 24% to $10.8B, while iPad revenue declined 10% to $6.2B. Reacting to the news, Apple shares recorded a slight decline of 1.8% during regular trading.

Stock Forecast for Palantir and Apple Ahead

According to TipRanks, Palantir stock may hit a high of $265, with an average price target of $228 and a low of $90.

“The average price target for Palantir Technologies is $228.00. This is based on 23 12-month price targets, issued in the past 3 months. The highest analyst price target is $265.00; the lowest forecast is $90.00. The average price target represents a 27.85% increase from the current price of $178.34.”

Meanwhile, TipRanks‘ Apple stock forecast says that the stock may hit a high of $400, with an average price target of $337.77 and a low of $245.

“The average price target for Apple is $337.77. This is based on 26 12-month price targets, issued in the past 3 months. The highest analyst price target is $400.00; the lowest forecast is $245.00. The average price target represents a 0.16% decrease from the current price of $338.32.”

According to the MCO ROI Tool, Apple stock delivered a 1.27x increase between January 1 and November 3, 2026, outperforming Palantir stock.

For a broader perspective, the MCO ROI Tool shows that Apple stock recorded a 1.27x increase between January 1 and November 3, 2026, compared with Palantir’s 1.10x increase over the same period. This offers a quick look at how both stocks have performed year to date, beyond the latest earnings announcements.

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