[Tom Lee: AI-related U.S. stocks still have room to rise, S&P 500 may reach 7700 by year-end] According to a report by Golden Finance, on May 7, Tom Lee stated in an interview with CNBC that despite U.S. stock markets reaching record highs, the valuations of leading stocks (especially those related to AI/semiconductors) remain reasonable. Tom Lee mentioned that the forward price-to-earnings ratio of leading semiconductor/technology stocks is approximately 22 times, significantly lower than the historical peak over the past 20 years. Demand in related industries continues to grow explosively, so "there is still room for growth, and the S&P 500 could reach 7700 or higher by the end of this year."