Tom Lee: Stock market is in better position now than the all-time highs earlier this year

• The U.S. stock market is in a better position today than earlier this year due to its ability to handle surging oil prices, rising earnings (war stimulating the economy), and less severe inflation shock.
• Tom Lee maintains a base case S&P 500 target of 7300 for this year, suggesting further upside before any significant drawdown.
• Tech, including the 'Mag7' and 'MegaCap Tech', is expected to lead the next leg of the rally, driven by strong earnings growth and attractive valuations, especially with the rise of AI.

Fundstrat's Tom Lee believes the stock market is in a better position now than at its all-time highs earlier this year, citing the U.S. market's resilience to oil surges, strong earnings, and potentially lower inflation shock. He projects the S&P 500 could reach 7300, with technology leading the next phase of the rally.