Fundstrat’s Tom Lee, known for his consistently bullish equity predictions, thinks certain categories of stocks could face a bear market later this year.
Lee says in a new CNBC interview that parts of the stock market look vulnerable due to “midterm seasonality,” petroleum shortages and a wave of upcoming initial public offerings (IPOs) that he says could cause a supply overhang.
But the Wall Street veteran does think the upcoming bear market will spare certain prominent sectors.
“I think there’s going to be a bear market in other stocks later this year, yes, but I think it’s going to spare the Mag-7 and software.
So it’s going to be names that either got lofty or are going to be affected by the fact that there is a lot of supply of new stock later this year, or the companies that are going to get hit by the shortage of petroleum products. So I think there are reasons that we could have headwinds later this year.”
Lee adds that semiconductor stocks “could become a bubble.”
“To me, they don’t seem like a bubble yet. When Nvidia’s trading at 19 times earnings, I think it’s still a good risk/reward, but I think that there are parts of that ecosystem that have become quite expensive.”
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The post Longtime Equities Bull Tom Lee Breaks Routine and Predicts Bear Market Later This Year – But Only for Certain Sectors appeared first on The Daily Hodl.
Fundstrat’s Tom Lee, known for his consistently bullish equity predictions, thinks certain categories of stocks could face a bear market later this year. Lee says in a new CNBC interview that parts of the stock market look vulnerable due to “midterm seasonality,” petroleum shortages and a wave of upcoming initial public offerings (IPOs) that he
The post Longtime Equities Bull Tom Lee Breaks Routine and Predicts Bear Market Later This Year – But Only for Certain Sectors appeared first on The Daily Hodl. Trading, Fundstrat, market, News, stocks, Tom Lee