Tom Lee: S&P 500 may reach 7700 points by the end of the year

According to CNBC, on May 7th, Tom Lee stated that the US stock market has reached a record high, but the valuations of AI and semiconductor related stocks are still reasonable, with a forward P/E ratio of about 22 times, lower than the historical high of the past 20 years. He believes that the demand in related industries is strong, and the S&P 500 may reach 7700 points or higher by the end of the year.