Tom Lee: US AI stocks still have potential to rise, S&P 500 may reach 7,700 by the end of this year
BlockBeats news, May 7, Tom Lee stated in an interview with CNBC today that although the US stock market has reached record highs, the valuations of leading stocks (especially those related to AI/semiconductors) remain reasonable.
Tom Lee said that the forward P/E ratio of leading semiconductor/technology stocks is about 22 times, which is far below the historical peak over the past 20 years. Demand in related industries is still growing explosively, so “there is still room to rise, and the S&P 500 may reach 7,700 or higher by the end of this year.”
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