Key takeaways
- According to Tom Lee, banks could be the main beneficiaries of artificial intelligence and blockchain technology.
- Lee suggested that banks like JPMorgan and Goldman Sachs could be the next Mag 7.
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Large financial institutions could see their margins increase by adopting artificial intelligence (AI) and blockchain technologies, Fundstrat’s Tom Lee said in a recent interview with CNBC. He suggested that tech-savvy banks like JPMorgan and Goldman Sachs could become the next Magnificent Seven-style leaders.
“Financial services companies are very big beneficiaries of AI, and they are big beneficiaries of using blockchain technology. Both will allow them to reduce the intensity of their operations in terms of employees,” Lee noted. “I think the big tech banks will start to see their margins increase and trade more like tech stocks in the future.”
Lee expects a more dovish Fed to help restore business confidence, with the ISM manufacturing index potentially returning above 50. He believes this could create tailwinds for traditional cyclical sectors like industrials, energy and basic materials.
The strategist previously said that when the ISM rises above 50, it is historically correlated with strong growth cycles in Bitcoin and Ethereum.
Looking at the short-term picture, Lee reiterated his bullish stance for the start of 2026, noting that the period from the last week of the year through the first days of January generally produced higher returns than usual.
