According to Tom Lee in a CNBC interview today (May 7), the analyst projects the S&P 500 could reach 7,700 or higher by year-end. Despite record highs in U.S. equities, Lee stated that leading stocks in AI and semiconductors remain reasonably valued, with forward price-to-earnings ratios around 22 times—well below historical highs over the past 20 years. Strong demand growth in these sectors supports further upside potential.
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