Shares of Palantir Technologies (NASDAQ:PLTR) ended Oct. 9 at $209.05, their highest close ever. They’ve dipped since. But at around $198 as I write, the stock still sits only about 5% under that high.

It’s easy to see why investors keep paying up. The artificial intelligence (AI) data and analytics specialist grew its second-quarter revenue 93% year over year, and its profits rose even faster.

Missed AI’s “Act 1”? Act 2 Could Be 14x Bigger. Most investors think they missed the AI boat because they didn’t buy Nvidia in 2005. But according to our analysts, we’re only at the end of “Act 1″—the R&D phase. “Act 2” is the global rollout. Continue »

But at today’s price, investors pay around 170…