Analyst revamps Palantir stock price target after slump
Over the past month, the Nasdaq Composite has dropped 11%, with a 4% decline on March 10, its steepest single-day decline since September 2022.
The selloff started in late February. Some market players tied the market move to uncertainty about President Donald Trump’s tariffs and their potential effect on the economy.
But Dan Niles, founder and portfolio manager of Niles Investment Management, says the tech selloff is driven by revenue estimates, not tariffs, according to CNBC.
Related: Veteran analyst who predicted 2024’s rally updates opinion as stocks correct
