Stocks are slipping on Wall Street after a big jump last week on hopes for more interest rate cuts from the Federal Reserve.

Rishi Jaluria of RBC Capital Management, a subsidiary of the Royal Bank of Canada, has a $45 price target on Palantir's stock. So the stock still needs to tumble about 70% more to reach his price target. That's a long way to fall for a proven AI leader, but is that a legitimate price target?

Wall Street stocks ended lower on Monday as investors parsed the outlook for U.S. interest rates and looked ahead to AI chipmaker Nvidia's quarterly earnings this week while digesting a rally on Friday that lifted the Dow Jones Industrial Average to a record high close.