Tom Lee says blockchain and AI could turn JPMorgan and Goldman Sachs into the next Mag 7.
Key receivers
According to Tom Lee, banks are the main users of artificial intelligence and blockchain technology. Lee suggested that banks like JPMorgan and Goldman Sachs could be the next Mag 7.
Share this article
Major financial institutions could see margin expansion by adopting artificial intelligence (AI) and blockchain technologies, Fundstrat's Tom Lee said in a recent interview with CNBC. He suggested that tech-forward banks like JPMorgan and Goldman Sachs could be the next Magnificent Seven-type leaders.
“Financial services companies are big users of AI and they are big users of using blockchain technology. Both allow them to reduce the workload of their employees,” he said. “I think the big tech going forward banks are going to see margin expansion and start trading more like tech stocks.”
As Lee expects business confidence to recover, the ISM Manufacturing Index may pull back above 50. He believes this could create tailwinds for traditionally cyclical sectors such as industrials, energy and basic materials.
The strategist has historically been associated with strong growth cycles in Bitcoin and Ethereum when the ISM is above 50.
As for the short-term picture, Lee reiterated his bullish stance on early 2026, noting that the stretch from the last week of the year to the first days of January produced stronger than usual returns.
