Investors are embarking on a hectic week with key tech companies reporting and a big Federal Reserve meeting – and it could shape the next steps for the stock market's rally, said Fundstrat's Tom Lee.
The surge in Big Tech helped carry the S&P 500 to a fresh record – and its first close above 4,900.
"We were penciling in 5,000 [on the S&P 500], and we could maybe go higher," he said.
"I do think we continue to be strong, but then after that, there's a big air pocket," Lee added.
His year-end target for the S&P 500 is 5,200.
Persons:
Tom Lee, Lee, CNBC's Contessa Brewer
Organizations:
Research, Fundstrat Global Advisors, Investors, Reserve, Microsoft, Apple, Meta, Big Tech, Dow Jones