Palantir slumps 6% after earnings as analysts point to slowdown in total contract value

Palantir shares fell in premarket trading on Tuesday after the software company reported third-quarter earnings and analysts pointed to signs of a slowdown in total contract value and other "forward indicators."

U.S. commercial revenue topped government for the first time, but the company closed $1.5 billion in TCV in the segment, up 11% from last year. In Q2, Palantir closed a record $2.1 billion worth of TCV in the segment, which was up 153% from the prior year.

Investors will "no doubt be looking for evidence in subsequent quarters that 11% growth in U.S. commercial TCV bookings is a fluke of duration and not something structural," a Piper Sandler note from Monday said. "We believe that is the case and demand for PLTR's solutions still very much outstrip supply."

In a Tuesday note, Goldman Sachs analysts noted that the company attributed some of this to shorter contract durations.

"The key will be converting shorter duration contracts into longer duration commitments, which Palantir has done successfully in the past," the analysts wrote.

Revenue nearly doubled from a year ago and blew past $2 billion for the first time, Palantir said in its earnings report.

The iPhone maker reported better-than-expected revenue in its fourth-quarter earnings, but fell short of estimates on iPad sales and issued a margin forecast that disappointed investors.

Apple 's statement marked the first earnings report since John Ternus took over as CEO from Tim Cook in September.

The company is reckoning with a global memory crunch and a scramble for computer components. Memory costs were higher this quarter than in the June period, the company said Monday. Despite the price surge, Ternus said Apple had just capped off its "best fiscal year ever."

He told CNBC's MacKenzie Sigalos that Apple's growth came despite supply constraints and foreign exchange headwinds.

"The concern is profitability," said Violeta Todorova, senior research analyst at Leverage Shares. "Management pointed to memory as the main pressure, together with the cost of rolling out Siri AI. Memory shortages are also expected to limit Mac and iPad supply, as demand has run ahead of plans."

Apple shares have risen 25% in 2026, ahead of other big tech names, but that premium leaves "little room for disappointment," Todorova added.