{"id":2419,"date":"2025-12-09T11:11:37","date_gmt":"2025-12-09T11:11:37","guid":{"rendered":"https:\/\/www.iforbes.cz\/?p=2419"},"modified":"2025-12-09T11:11:37","modified_gmt":"2025-12-09T11:11:37","slug":"palantir-pod-tlakem-korekce-a-napeti-mezi-valuacemi-a-ocekavanimi-trhu","status":"publish","type":"post","link":"https:\/\/www.iforbes.cz\/index.php\/2025\/12\/09\/palantir-pod-tlakem-korekce-a-napeti-mezi-valuacemi-a-ocekavanimi-trhu\/","title":{"rendered":"Palantir pod tlakem. Korekce a nap\u011bt\u00ed mezi valuacemi a o\u010dek\u00e1v\u00e1n\u00edmi trhu"},"content":{"rendered":"\n<p><strong>Technologick\u00fd sektor za\u017eil v listopadu citeln\u00e9 ochlazen\u00ed, p\u0159i\u010dem\u017e jednou z nejviditeln\u011bj\u0161\u00edch ob\u011bt\u00ed korekce se stal Palantir. Spole\u010dnost, prezentuj\u00edc\u00ed se v posledn\u00edch \u010dtvrtlet\u00edch jako jeden z nov\u00fdch l\u00eddr\u016f AI infrastruktury, zaznamenala pokles akci\u00ed o 16 %, co\u017e je jej\u00ed nejhor\u0161\u00ed m\u011bs\u00ed\u010dn\u00ed v\u00fdsledek od srpna 2023. Tento propad v\u0161ak nebyl zp\u016fsoben zhor\u0161en\u00edm fundament\u016f \u2013 pr\u00e1v\u011b naopak, Palantir op\u011bt p\u0159ekonal o\u010dek\u00e1v\u00e1n\u00ed Wall Street. Co tedy bylo hlavn\u00edm spou\u0161t\u011b\u010dem?<\/strong><\/p>\n\n\n\n<p><strong>Ceny zpomaluj\u00ed<\/strong><\/p>\n\n\n\n<p>Na za\u010d\u00e1tek je kl\u00ed\u010dov\u00e9 zd\u016fraznit obecn\u00fd fakt, \u017ee korekce jsou p\u0159irozenou sou\u010d\u00e1st\u00ed v\u00fdvoje cen na finan\u010dn\u00edch trz\u00edch, a z\u00e1rove\u0148 to, \u017ee si ka\u017ed\u00fd investor mus\u00ed b\u00fdt jejich mo\u017en\u00e9ho v\u00fdskytu pln\u011b v\u011bdom. Aktu\u00e1ln\u011b, jak jsme nazna\u010dili u\u017e v \u00favodu, sestupn\u00e9 pohyby nereprezentuj\u00ed \u017e\u00e1dn\u00fd v\u00fdrazn\u00fd pokles vnit\u0159n\u00ed hodnoty firem, zat\u00edm jde sp\u00ed\u0161e o technickou korekci. D\u016fkazem jsou nejnov\u011bj\u0161\u00ed \u010dtvrtletn\u00ed \u010d\u00edsla Palantiru \u2013 firma vyk\u00e1zala druh\u00fd \u010dtvrtlet\u00ed po sob\u011b, ve kter\u00e9m p\u0159ekonala 1 miliardu v tr\u017eb\u00e1ch.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" width=\"605\" height=\"419\" src=\"https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-1.png\" alt=\"Obsah obr\u00e1zku text, Vykreslen\u00fd graf, \u0159ada\/pruh, diagram\n\nObsah generovan\u00fd pomoc\u00ed AI m\u016f\u017ee b\u00fdt nespr\u00e1vn\u00fd.\" class=\"wp-image-2421\" srcset=\"https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-1.png 605w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-1-300x208.png 300w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-1-392x272.png 392w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-1-130x90.png 130w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-1-600x417.png 600w\" sizes=\"(max-width: 605px) 100vw, 605px\" \/><figcaption>V\u00fdvoj ceny akci\u00ed spole\u010dnosti Palantir za posledn\u00edch p\u011bt let* Zdroj: TradingEconomics<\/figcaption><\/figure><\/div>\n\n\n\n<p>Na druhou stranu se do situace zapojuje i tradi\u010dn\u00ed vyb\u00edr\u00e1n\u00ed zisk\u016f investor\u016f po siln\u00e9m roce. Pro srovn\u00e1n\u00ed, Nvidia zaznamenala pokles o 12 %, Microsoft o 5 %.* Jedin\u00fdmi sv\u011btl\u00fdmi v\u00fdjimkami, kter\u00e9 se jako jedin\u00e9 ze skupiny Magnificent Seven v listopadu udr\u017eely v kladn\u00fdch hodnot\u00e1ch, z\u016fstaly Apple a Alphabet.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" width=\"605\" height=\"419\" src=\"https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image.png\" alt=\"Obsah obr\u00e1zku text, Vykreslen\u00fd graf, \u0159ada\/pruh, diagram\n\nObsah generovan\u00fd pomoc\u00ed AI m\u016f\u017ee b\u00fdt nespr\u00e1vn\u00fd.\" class=\"wp-image-2420\" srcset=\"https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image.png 605w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-300x208.png 300w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-392x272.png 392w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-130x90.png 130w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-600x417.png 600w\" sizes=\"(max-width: 605px) 100vw, 605px\" \/><figcaption>V\u00fdvoj ceny akci\u00ed spole\u010dnosti Nvidia za posledn\u00edch p\u011bt let* Zdroj: TradingEconomics<\/figcaption><\/figure><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" width=\"605\" height=\"419\" src=\"https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-2.png\" alt=\"Obsah obr\u00e1zku text, \u0159ada\/pruh, Vykreslen\u00fd graf, P\u00edsmo\n\nObsah generovan\u00fd pomoc\u00ed AI m\u016f\u017ee b\u00fdt nespr\u00e1vn\u00fd.\" class=\"wp-image-2422\" srcset=\"https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-2.png 605w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-2-300x208.png 300w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-2-392x272.png 392w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-2-130x90.png 130w, https:\/\/www.iforbes.cz\/wp-content\/uploads\/2025\/12\/image-2-600x417.png 600w\" sizes=\"(max-width: 605px) 100vw, 605px\" \/><figcaption>V\u00fdvoj ceny akci\u00ed spole\u010dnosti Microsoft za posledn\u00edch p\u011bt let* Zdroj: TradingEconomics<\/figcaption><\/figure><\/div>\n\n\n\n<p><strong>Michael Burry vs. Palantir<\/strong><\/p>\n\n\n\n<p>Pokles ceny akci\u00ed je\u0161t\u011b v\u00edce vyhrotil konflikt mezi Palantirem a zn\u00e1m\u00fdm investorem Michaelem Burrym. Burry, kter\u00e9ho proslavila p\u0159edev\u0161\u00edm p\u0159edpov\u011b\u010f finan\u010dn\u00ed krize v roce 2008, moment\u00e1ln\u011b otev\u0159en\u011b s\u00e1zel proti Palantiru i Nvidii. Tvrd\u00ed, \u017ee technologi\u010dt\u00ed giganti um\u011ble nafukuj\u00ed zisky a \u017ee cel\u00fd AI sektor m\u00e1 nere\u00e1ln\u00e1 r\u016fstov\u00e1 o\u010dek\u00e1v\u00e1n\u00ed.<\/p>\n\n\n\n<p>Alex Karp, gener\u00e1ln\u00ed \u0159editel Palantiru, reagoval nezvykle ost\u0159e. B\u011bhem jedin\u00e9ho t\u00fddne dvakr\u00e1t vystoupil na CNBC a obvinil Burryho z manipulace trhem, p\u0159i\u010dem\u017e jeho jedn\u00e1n\u00ed ozna\u010dil za nespravedliv\u00e9.<\/p>\n\n\n\n<p><strong>Nov\u00e9 kontrakty a budoucnost Palantiru<\/strong><\/p>\n\n\n\n<p>V neposledn\u00ed \u0159ad\u011b Palantir v posledn\u00edch t\u00fddnech ozn\u00e1mil tak\u00e9 n\u011bkolik v\u00fdznamn\u00fdch partnerstv\u00ed \u2013 n\u011bkolikalet\u00fd kontrakt s PwC m\u00e1 podpo\u0159it adopci AI ve Spojen\u00e9m kr\u00e1lovstv\u00ed, p\u0159i\u010dem\u017e smlouva s FTAI se soust\u0159ed\u00ed na optimalizaci \u00fadr\u017eby leteck\u00fdch motor\u016f. Tyto dohody potvrzuj\u00ed, \u017ee Palantir si upev\u0148uje pozici hr\u00e1\u010de, kter\u00fd dok\u00e1\u017ee kombinovat sv\u016fj software, AI \u0159e\u0161en\u00ed a partnerstv\u00ed s velk\u00fdmi klienty, co\u017e je v aktu\u00e1ln\u00ed pozici Palantiru p\u0159\u00edmo nezbytn\u00e9.<\/p>\n\n\n\n<p>Rizikem toti\u017e pro investory i nad\u00e1le z\u016fst\u00e1v\u00e1 vysok\u00e9 ocen\u011bn\u00ed z pohledu pom\u011bru ceny akci\u00ed a budouc\u00edch zisk\u016f, kter\u00e9 je na \u00farovni 233n\u00e1sobku. Na jedn\u00e9 stran\u011b to tedy m\u016f\u017ee evokovat pr\u00e9miovou cenu, ale sou\u010dasn\u011b je d\u016fle\u017eit\u00e9 dodat, \u017ee firma p\u0159e\u0161la do ziskov\u00e9 f\u00e1ze pom\u011brn\u011b ned\u00e1vno, v roce 2023, a tak je vysok\u00e1 \u00farove\u0148 pochopiteln\u00e1. Proto je do budoucna d\u016fle\u017eit\u00e9 zam\u011b\u0159it pozornost pr\u00e1v\u011b na tempo z\u00edsk\u00e1v\u00e1n\u00ed nov\u00fdch kontrakt\u016f.<\/p>\n\n\n\n<p><strong>David Matulay, analytik<\/strong><a href=\"https:\/\/investingfox.com\/cs\" target=\"_blank\" rel=\"noreferrer noopener\"><strong> InvestingFox<\/strong><\/a><\/p>\n\n\n\n<p><em>Foto: AdobeStock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technologick\u00fd sektor za\u017eil v listopadu citeln\u00e9 ochlazen\u00ed, p\u0159i\u010dem\u017e jednou z nejviditeln\u011bj\u0161\u00edch ob\u011bt\u00ed korekce se stal Palantir. Spole\u010dnost, prezentuj\u00edc\u00ed se v<\/p>\n","protected":false},"author":1,"featured_media":2423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout"},"categories":[58],"tags":[350,190,268,400,271],"_links":{"self":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2419"}],"collection":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/comments?post=2419"}],"version-history":[{"count":1,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2419\/revisions"}],"predecessor-version":[{"id":2424,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2419\/revisions\/2424"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/media\/2423"}],"wp:attachment":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/media?parent=2419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/categories?post=2419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/tags?post=2419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}