While the operational momentum is clearly solid, investors should pay closer attention to the risks. History shows Palantir stock can fall hard as sentiment shifts.

Investors looking at the stock today may want to wait for a significant pullback in price before adding shares to their portfolio. It's unlikely that a $10,000 investment in Palantir today will make you a millionaire.

Rallying by low double digits just days after its Q2 earnings, is Palantir’s expanding AI footprint enough to offset valuation risks and hit Wedbush’s $200 target?