In a video update on Friday, Tom Lee said he would buy this AI selloff, setting a target of a 15% rebound in the Nasdaq.
The downturn began with a shift in policy expectations after the midterm elections. He compared it with this August: from late June to early August, the Nasdaq fell about 12%, then the S&P 500 rebounded 15%. Data center spending may be delayed, but a complete halt is unlikely.
His own position is worth noting. Tom Lee is also chairman of an Ethereum treasury company, and this time he listed a rebound in the crypto market as one of the bull-market signals. $ETH
During the same segment, an equity portfolio manager at J.P. Morgan Asset Management said these kinds of pullbacks occur once or twice a year and are normal. He said the companies he spoke with this week had order backlogs stretching 12 to 24 months.
On October 26, he said the AI selloff was coming to an end. Ten days later, the Nasdaq entered correction territory. On Thursday, the Philadelphia Semiconductor Index fell 12.25% in a single day, then rebounded about 4% on Friday. The Nasdaq still posted its fourth consecutive weekly decline.
The downturn began with a shift in policy expectations after the midterm elections. He compared it with this August: from late June to early August, the Nasdaq fell about 12%, then the S&P 500 rebounded 15%. Data center spending may be delayed, but a complete halt is unlikely.
His own position is worth noting. Tom Lee is also chairman of an Ethereum treasury company, and this time he listed a rebound in the crypto market as one of the bull-market signals. $ETH
During the same segment, an equity portfolio manager at J.P. Morgan Asset Management said these kinds of pullbacks occur once or twice a year and are normal. He said the companies he spoke with this week had order backlogs stretching 12 to 24 months.
On October 26, he said the AI selloff was coming to an end. Ten days later, the Nasdaq entered correction territory. On Thursday, the Philadelphia Semiconductor Index fell 12.25% in a single day, then rebounded about 4% on Friday. The Nasdaq still posted its fourth consecutive weekly decline.
