Fundstrat co-founder and managing partner Tom Lee says the broader market could face several headwinds in the coming months, even as he remains optimistic about the long-term outlook for artificial intelligence (AI) and tech stocks.
In a new CNBC interview, Lee he says investors should focus on the Federal Reserve’s response to inflationary pressures, rising yields, and the number of upcoming public offerings (IPOs).
“I think three trials are coming to the market.” One is how the Fed will react to the overall inflation crisis.
I think there is going to be a big rise in inflation not in order but in shock inflation and lack of energy. And thirdly I know that I think we have a lot of IPO and that’s enough.
So I think we’re going to have a test at the end of this summer. So I think the award is still good for the technology, but I’m not sure about the mass market. “
Lee says he remains bullish on technology long-term because of the United States’ leadership in AI, but warned that concerns about inflation, rising productivity and market capitalization from IPOs could cause the stock market to rise in the coming months.
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