Tom Lee spoke on CNBC this morning. I've summarized it for you:
๐ After the sharp decline in April, the market unexpectedly recovered in a V-shape. Most investors missed this rally and are still under-positioned. However, corporate earnings have held up quite well, strengthening the likelihood of a continued rally.
๐ The S&P 500's current equally weighted P/E ratio is even below its 2019 level. This means that despite the current peak and six major crises, it remains cheap.
๐ Apple is quietly preparing for AI and could deliver a major surprise. Apple could differentiate itself with an AI product focused on security and privacy. Just because they're a bit behind in the AI game doesn't mean they're out of the game.
๐ $BTC Bitcoin's potential rise to $200,000-$250,000 in the medium term remains a possibility. According to the digital gold thesis, even $1 million could be a reasonable target.
๐ Stablecoins are now being adopted by both consumers and institutions. The growth of this area is contributing significantly to Ethereum.
๐ $ETH Ethereum rose to $3,600 after the drop. My technical analyst, Mark Newton, sees $5,000 in the short term and $10,000-20,000 in the long term as possible.
๐ Potential developments on August 1st could be positive for the markets. Tariffs are now manageable for companies, which supports optimism.