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Tom Lee: AI US stocks still have room to rise, and the 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 despite the U.S. stock market reaching record highs, the leading stocks (especially those related to AI/semiconductors) are still reasonably valued.
Tom Lee said that the forward P/E ratio of semiconductor/tech leading stocks is about 22 times, well below the historical high of the past 20 years. Industry demand is still exploding, so “there is room for further growth, and the S&P 500 could reach 7,700 or higher by the end of this year.”