Tom Lee, Chairman of BitMine, has reiterated his year-end target for the S&P 500 at 7,700, despite ongoing geopolitical tensions. In an interview with CNBC, Lee described the target as conservative, noting that it assumes only modest multiple expansion this year. He acknowledged the short-term disruptions caused by the war, including impacts on monetary policy, but suggested that these could ultimately benefit the U.S. economy and stock market in the long term. Lee pointed out that historically, markets tend to bottom out early in conflicts, and he expects the focus to shift from the crisis to emerging opportunities by year-end. Addressing concerns about market optimism, Lee highlighted that sectors like energy, financials, and the MAG-7, which make up about 70% of the S&P 500, had already experienced downturns prior to the conflict. He also noted that gold's rally indicated that the market had already begun pricing in geopolitical uncertainty, with investors having de-risked accordingly.