Jamie Dimon warns of 5 economic threats lurking 'under the surface'

Impact · against what's priced in

Higher-than-expected CPI and rising Treasury yields increase the likelihood of Fed rate hikes, creating a macro headwind for growth and valuation multiples. While this validates JPM's cautious outlook, it specifically challenges the valuation thresholds for growth names like AMD and ABNB.

AMD−0.30

Challenges what's priced in

The price assumes

EPS doubling by FY27, which the market currently treats with deep skepticism given the 127.8x trailing earnings multiple