Palantir stock has been one of the hottest stocks on the market over the last year, but you wouldn't know it by looking at its chart over the last two months.

Shares of data mining and artificial intelligence leader Palantir Technologies Inc. (NYSE: PLTR) are down nearly 50% since hitting highs in February. But that might be changing after the company reported earnings on Tuesday morning. Shares are up over 8% already.

Sales were above analyst expectations, and profits were in line with expectations, but management warned that second-quarter sales would be "sluggish."

Management estimated $360 million in revenue, representing year-over-year revenue growth of 43%. That's above what analysts were expecting, but the company is growing so fast that Wall Street has decided that's sluggish.

That's Wall Street's special form of analytical nonsense on full display.

Here's why Palantir's growth is anything but slow – and why that makes Palantir one of the top tech stocks to own now…

Palantir's Earnings Show a Winning Company

Palantir is positioned to be the leader in what will be the biggest tech business of the next decade. Its artificial intelligence data analysis software is already powering the United States homeland security and military missions.

It is a key player in what is shaping up to be an AI race between the United States and China.

Government contracts continued to be the star this quarter as revenue growth was 76% year over year with 83% growth from U.S. government customers.

The government business is not just the military either. Palantir recently landed a contract with the National Nuclear Security Administration to provide its Office of Safety, Infrastructure, and Operations with a platform for effective knowledge management and data-driven decision making.

Palantir had $1.1 billion in U.S. government revenue last year but their potential market is roughly 25 times that amount. Using artificial intelligence to analyze data and make better decisions can be used to improve every operational are of government from budgeting to delivering better healthcare.

Palantir has relationships across every level of government and will be a leading AI vendor for the government for as long as it chooses to be.

The commercial side of the business is growing a little slower as AI is in the early days of acceptance in the business world.

There are signs that this is changing…

Why Palantir Stock Is One to Accumulate

3M Co. (NYSE: MMM) recently announced that it would be partnering with Palantir to support the digital transformation of its very complex supply chain. 3M deals with tens of thousands of products being shipped all over the world, and AI could make this more efficient.

Akin Gump, a global law firm with more than 900 attorneys in 20 offices worldwide, is using Palantir software to build a new legal digital services platform. Clients will be able to manage previously complex and time-intensive compliance obligations using automated data solutions developed by Palantir's software.

Palantir announced a new partnership with International Business Machines Corp. (NYSE: IBM) that will make it easier for businesses to build and deploy AI applications. The combination of Palantir software with IBM Cloud Pack for Data, IBM Watson, and Red Hat OpenShift will make it possible for businesses to use AI to analyze data from across all their systems.

Best of all, you do not need to be a technical genius to use the software to get the information you need at any given moment.

Palantir has a massive total addressable market of well over $100 billion. It is split between total government (both U.S. and International) and commercial for the moment. As AI continues to progress, the total commercial market is going to grow at a very rapid pace.

Palantir is going to be the market leader in both government and commercial markets for artificial intelligence data analysis.

Palantir has the potential to be the greatest growth stock story of the next decade. Management has said it expects revenue to grow by at least 30% annually for the next five years.

Wall Street is far more optimistic, with average annual revenue growth of over 40% expected.

When we look at the other hot trends like electric vehicles, driverless vehicles, renewable energy, infrastructure, and drones, AI decision-making based on data is going to be the driver of growth for all of these sectors.

AI can help modernize the supply chain.

It can help manage the government's strained budget.

AI can help make for a more efficient safer electrical grid.

AI will continue playing a major role in keeping our nation safe from enemies foreign and domestic.

We have heard many technologies called world-changing over the years.

Using AI-driven data analysis to drive decision-making can truly be world-changing technology.

Palantir is going to be the market leader.

The stock will be volatile, and we would suggest using that volatility to accumulate the stock with a time frame of a decade or longer.