Tom Lee: Maintains Year-End Target of 7700 for S&P 500, Says Wars Have Historically Been Buying Opportunities

BlockBeats News, March 22nd. Tom Lee, Chairman of Ethereum Treasury Company BitMine, stated in an interview with CNBC, "We maintain our year-end target of 7700 points for the S&P 500 index. 7700 points was originally a conservative estimate, as we only assumed a mild price-to-earnings expansion for this year. Although the war has caused significant impact and various uncertainties in the short term, including its impact on monetary policy, the war may be beneficial for the U.S. economy and the U.S. stock market in the long run. By the end of the year, the market will gradually shift its focus from the crisis itself to the opportunities within it. Looking back at the past 8 major war events, the market usually starts to bottom out in the early stages of the conflict."

Regarding whether the current market is too optimistic, Tom Lee stated, "In fact, we have already been through a bear market cycle. Last year, energy stocks were in a three-year bear market, financial stocks were also declining, and the MAG-7 are likewise in a downturn cycle. These sectors together account for about 70% of the S&P 500. Even before the war began, gold had already seen a parabolic rise, indicating that to some extent, the market had already started to price in geopolitical uncertainties, and investors had completed the de-risking process."