bit999

07/10 17:44

JPMorgan Will Become a Trillion Dollar Company

JPMorgan Will Become a Trillion Dollar Company Thanks to the Adoption of the ‘Most Disruptive Technology,’ According to TD Cowen – Here’s When 

TD Bank’s investment arm believes that JPMorgan’s market cap will soar to $1 trillion thanks to the use of artificial intelligence (AI). 

In a new interview with CNBC, TD Cowen analyst Stephen Alexopoulos said that investors are currently investing in tech stocks to take advantage of the growth potential of AI. The analyst notes that investors are likely undervaluing the stocks, which he believes will soar once AI is widely commercially adopted. 

“If you think about where we are right now with AI, we’re at the developer level. The focus is on Nvidia, OpenAI, developers. I think in two years, maybe a year, the focus will expand from developers to those who will use this technology to generate huge economic benefit. 

That’s what we’ve seen online.  As the internet grew, the focus was on Cisco and IBM, and as the sophistication grew, it shifted to Google with search and Amazon with commerce. If you look at the S&P 493 index… You need to focus on the sectors that rely on people, the knowledge workers, because that’s where AI is going to revolutionize them.”

According to the TD Cowen analyst, banks are likely to be the biggest beneficiaries of AI advances, and JPMorgan is expected to lead the way.

Alexopoulos said that while JPMorgan’s head of consumer banking Marianne Lake expects the division to cut its headcount by about 10% over the next five years, he considers that a conservative estimate and expects a 20% reduction. Alexopoulos said JPMorgan will continue to grow despite the significant headcount reduction.

“[JPMorgan] is only valued relative to history, and that history has not included the most disruptive technologies of our lifetimes.  Banks will move to a new valuation paradigm…

By the end of next year, [JPMorgan] will be a trillion-dollar market cap company.”

As of Monday’s close, JPMorgan’s market cap was $811 billion.

#BTC price hits a new high of $120,000! #Claim1,200 USDT in the Monthly Creation Challenge

1Share