Fundstrat’s Tom Lee, who is known for his regular stock forecasting, thinks that some stocks may face a bear market later this year.
Lee says in a new CNBC interview that the stock market appears vulnerable due to the “mid-term climate,” the lack of oil and the number of upcoming public offerings (IPOs) that are said to lead to oversupply.
But the Wall Street veteran thinks the coming bear market will save some popular shares.
“I think there will be a bear market in some stocks later this year, yes, but I think it will stop Mag-7 and software.
So it will be names that have been raised or affected because there are many new products at the end of this year, or companies that have been affected by the lack of oil. So I think there are reasons it could happen to us this year. “
Lee adds that semiconductor stocks “could be a bubble.”
“To me, they still don’t look like bubbles.” When Nvidia is trading at 19, I think it’s still a good risk/reward, but I think there are parts of the ecosystem that have become too expensive.”
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