Tom Lee: AI and blockchain are good news for the financial services industry; JPMorgan Chase and Goldman Sachs may become the next seven major U.S. st...
TL;DR
Tom Lee predicts AI and blockchain will boost financial services by cutting labor costs and expanding profit margins, potentially making JPMorgan Chase and Goldman Sachs the next Big Seven in U.S. stocks.
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[Tom Lee: AI and Blockchain Benefit Financial Services Industry; JPMorgan Chase and Goldman Sachs May Become the Next Big Seven in US Stocks] According to Mars Finance, on December 25th, Tom Lee stated, "There are some positive developments in the financial services sector. Financial services companies will be significant beneficiaries of AI, and will also benefit from the application of blockchain technology. Both can help them reduce their reliance on employees. Therefore, I believe that large, technology-driven banks may begin to see profit margin expansion in the future and perform more like tech stocks. JPMorgan Chase and Goldman Sachs may become the next Big Seven in US stocks."