Program and guest
On Prof G Markets, host Ed Elson speaks with Tom Lee, head of research at Fundstrat. Original English title: Tom Lee: The Correction Is Over — Stocks Are About To Surge. The subtitles cover 0:00–34:43; this article covers only the Tom Lee segment (approximately 0:00–19:30) and does not cover the subsequent discussion of Apple’s earnings.
Key points
- The correction is nearing its end, the S&P could reach 8200 to 8400 by year-end, and the year-end rally will be stronger than expected. 0:10
- Over the past month, the Nasdaq fell about 10%, but the equal-weight index rose more than 4%, while the S&P is still up more than 10% this year. 3:33
- What is called circular financing is more about building an ecosystem, much as RCA once built its own radio stations and produced programs to nurture the industry. 5:46
- A sign that AI has become a bubble would be the invention of use cases with no end market, or a halt in the pace of innovation itself. 7:42
- Cisco rose about 100-fold in its day; Nvidia has risen about 10-fold since ChatGPT, still far short of that magnitude. 8:54
Background and notes
The first half of this Prof G Markets episode features a conversation with Tom Lee; the second half, beginning around 19:30, discusses Apple’s earnings. The subtitles cover 0:00–34:43. This article covers only the Tom Lee segment, not the later content. The views and timestamps are based on the original subtitles; each timestamp marks the start of the corresponding passage.