Tom Lee: US Stocks Still Have Room to Rise Further by Year-End, Overall Fundamentals Healthy

BlockBeats News, May 24th - Tom Lee, Chairman of BitMine, Ethereum's largest treasury, stated in an interview with CNBC that the overall fundamentals of the U.S. stock market remain healthy. It has shown resilience in an environment of rising oil prices and yields. Tom Lee believes that the U.S. economy has unique advantages, including a leading position in AI technology, relative energy independence, and strong consumer resilience. He said, "Compared to the beginning of the year, there is still more room for the U.S. stock market to rise by the end of the year. We will still have some issues to digest later this year, but the fundamentals are currently healthy and supported by earnings."

He pointed out that large AI companies such as OpenAI and SpaceX going public will create a wealth effect of trillions of dollars and stimulate consumption and the market later this year. However, he also warned that with more large IPOs and lock-up expirations during the year, the U.S. stock market may face additional supply pressure. In addition, Tom Lee stated that the AI and semiconductor sectors have not formed a bubble yet, and the market is truly chasing "scarce assets." He believes that demand for AI-related products is still strong, while there is still a shortage on the supply side.

Regarding his earlier prediction of a stock market pullback, Tom Lee clarified, "We have already experienced a bear market in the MAG-7 and software sectors, and later this year, other stocks will experience a bear market, but the MAG-7 and software sectors will be exempt from this bear market. Later this year, the market will face several events: the uncertainty brought by the midterm election season, the settlement moment caused by the shortage of oil products inventory, and the supply pressure brought by the later lock-up expirations of SpaceX, OpenAI, and others."