Well, strap in, space travelers, because Fundstrat’s Tom Lee-the man who’s more bullish than a herd of interstellar cattle-has suddenly decided the financial universe might have a few black holes after all. Yes, the same Tom Lee who’d buy stocks if they were printed on toilet paper now thinks certain categories of equities are headed for a bear market. Or, as he puts it, a “selective mauling.”
In a recent CNBC interview, Lee explained that parts of the stock market are looking as vulnerable as a space tourist without a helmet. Blame it on “midterm seasonality” (because elections apparently affect stocks more than gravity affects apples), petroleum shortages (which, let’s be honest, are as predictable as a Vogon poem), and a tsunami of IPOs that could create a supply overhang. Or, as I like to call it, a “stockpocalypse.”
But fear not, dear investors! The Wall Street sage assures us that this bear market will be as selective as a gourmet at a buffet. Certain sectors, he says, will be spared the carnage. Specifically, the Mag-7 and software stocks. Because, you know, they’re just too cool to fail.
“I think there’s going to be a bear market in other stocks later this year, yes, but I think it’s going to spare the Mag-7 and software. So it’s going to be names that either got lofty or are going to be affected by the fact that there is a lot of supply of new stock later this year, or the companies that are going to get hit by the shortage of petroleum products. So I think there are reasons that we could have headwinds later this year.”
And what about semiconductor stocks? Well, Lee thinks they “could become a bubble.” But don’t worry, they’re not there yet. Nvidia, for instance, is trading at 19 times earnings, which he considers a “good risk/reward.” Though, he admits, parts of that ecosystem have gotten as expensive as a three-course meal at the Restaurant at the End of the Universe.
“To me, they don’t seem like a bubble yet. When Nvidia’s trading at 19 times earnings, I think it’s still a good risk/reward, but I think that there are parts of that ecosystem that have become quite expensive.”
So there you have it, folks. Tom Lee’s latest prophecy: a bear market that’s as picky as a gourmet with a toothache. Just remember, in the words of the great Douglas Adams, “Don’t panic.” Unless, of course, you’re holding the wrong stocks. Then, by all means, panic.
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2026-05-26 15:02