Fundstrat CIO Tom Lee discusses the unexpected earnings resilience of U.S. public equities through successive post-2020 macroeconomic shocks.
Opinion
Tom Lee: AI Drives Market Narrative, Not Fundamentals
“But that's different in my opinion than AI is driving the stock market. Like it's driving the narrative, but it's not necessarily driving the market.”
Prediction Not checkable as stated
Lee: The AI Market Bubble Will Eventually Burst
“The bubble bursts in AI. And I think that's going to happen for sure.”
Prediction Not checkable as stated
Lee: AI Sectors Will Peak Simultaneously One-Third Into the Cycle
“Everything's gonna peak at the same time, probably one third into the cycle, but then in that period of consolidation and shakeout, then one or two industries truly pull away and capture the value again.”
Opinion
Lee: Nvidia's 30x Earnings Valuation Is Reasonable Compared to 1990s Toyota
“You know, NVIDIA is not crazy today, you know, because it's 30 times earnings, which is not a premium. I mean, Toyota traded at 40 times earnings for years in the nineties just making cars, and NVIDIA is not making a car. You know, they're making a really diff…”
Assertion Contradicted
Lee: Tether Is the World's Third Most Profitable Financial Institution
“And so Tether, from a net income basis, makes more money than most financial institutions. I think it's, would be the third most profitable financial institution in the world.”
Assertion Not checkable as stated
Tom Lee: AI Innovation Is Only Happening in the US and China
“Really, there are, there's only two places where AI innovation's taking place, is the United States and China.”