Investors should expect that some selling pressure will come in the form of short-term profit-taking before year-end. However, any weakness in Palantir will certainly be met with additional buyers as long-term investors are likely to be waiting for an opportunity to buy Palantir stock on a dip.

Among AI's hottest stocks through 2024 are data analytics company Palantir Technologies ( PLTR 6.88%) and semiconductor leader Nvidia ( NVDA 1.18%). Both companies have handily topped the markets this year -- with shares of Palantir rocketing by 291% while Nvidia has gained about 179% (as of market close Nov. 29).