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Tom Lee says blockchain and AI could turn JPMorgan and Goldman Sachs into next Mag 7

Tom Lee says blockchain and AI could turn JPMorgan and Goldman Sachs into next Mag 7

Lower costs and more efficient operations could lead to margin expansion.

JPMorgan Chase & Co. (JPM) price

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Market cap
$901.9B (shares as of 2026-06-30)
P/E (trailing)
14.5 (EPS to 2026-06-30)
Annual revenue
$182.4B USD (FY ended 2025-12-31) 10-K
Annual revenue growth
+2.8% (FY ended 2025-12-31 vs FY ended 2024-12-31) 10-K
Annual net income
57,048,000,000 USD (FY ended 2025-12-31, attributable to the company) 10-K
Annual operating margin
Unavailable
Forward P/E
Unavailable: no dated forecast source

Gloria daily close for session Oct 28, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.

JPMorgan Chase & Co. and its peers

Company PriceMarket capP/E (trailing)Forward P/EAnnual revenue (USD)Annual revenue growthAnnual net income (USD)Operating margin
JPMorgan Chase & Co. JPM · Price dated Oct 28, 2026 · tokenized JPMx $339$901.9B14.5Unavailable$182.4BFY ended 2025-12-31 · 10-K+2.8%FY ended 2025-12-31 vs 2024-12-31 · 10-K57,048,000,000FY ended 2025-12-31, attributable to the company · 10-KUnavailable
Bank of America Corporation BAC · Price dated Oct 28, 2026 · tokenized BACx $51$355.6B11.7Unavailable$113.1BFY ended 2025-12-31 · 10-K+6.8%FY ended 2025-12-31 vs 2024-12-31 · 10-K30,509,000,000FY ended 2025-12-31, attributable to the company · 10-KUnavailable
Wells Fargo & Company WFC · Price dated Oct 28, 2026 $84$251.2B11.8Unavailable$83.7BFY ended 2025-12-31 · 10-K+1.7%FY ended 2025-12-31 vs 2024-12-31 · 10-K21,338,000,000FY ended 2025-12-31, attributable to the company · 10-KUnavailable
Citigroup Inc. C · Price dated Oct 28, 2026 $124$208.2B13.4Unavailable$85.2BFY ended 2025-12-31 · 10-K+5.6%FY ended 2025-12-31 vs 2024-12-31 · 10-K14,306,000,000FY ended 2025-12-31, attributable to the company · 10-KUnavailable

Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.

Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 28, 2026, 5:41 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.

Major financial institutions could see margin expansion by adopting artificial intelligence (AI) and blockchain technologies, said Fundstrat’s Tom Lee in a recent interview with CNBC. He suggested that tech-forward banks like JPMorgan and Goldman Sachs could become the next Magnificent Seven-style leaders.

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“Financial services companies are really big beneficiaries of AI, and they’re big beneficiaries of using blockchain technology. Both will allow them to reduce their employee intensity of their business,” Lee noted. “I think the large tech-forward banks are going to start to see margin expansion and trade more like tech stocks in the future.”

Lee expects a more dovish Fed to help business confidence recover, with the ISM manufacturing index potentially moving back above 50. He believes that could create tailwinds for traditional cyclical sectors like industrials, energy, and basic materials.

The strategist previously stated that when the ISM exceeds 50, it historically correlates with strong growth cycles in Bitcoin and Ethereum.

As for the short-term picture, Lee restated his bullish stance for early 2026, noting that the stretch from the last week of the year into the first days of January has typically produced stronger-than-usual returns.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

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