Tom Lee: The S&P 500 index is expected to hit 8000 points in August

Tom Lee, Chairman of Bitmine and Co-founder of Fundstrat, stated that the S&P 500 index is expected to reach the range of 7900 to 8000 points in August, which still has about a 3.6% upside potential from Wednesday's closing level.

Lee believes that the main factors driving the continued rise of U.S. stocks include strong technical momentum, accelerated corporate earnings growth, and an expanding breadth of the market rally. He remains optimistic about semiconductors, software, Ethereum, and the "Magnificent Seven" tech stocks, believing that AI-driven earnings growth will continue to improve market expectations for corporate earnings in 2027.

Lee indicated that as AI-related investments continue to drive improvements in corporate efficiency and profit growth, the market may further raise future earnings forecasts, providing support for the rise of U.S. stocks.