JPMorgan Chase nears $1 trillion market cap, top analyst says $2 trillion is next
JPMorgan Chase is closing in on becoming the first bank to reach a $1 trillion market capitalization. Top Wall Street analyst Mike Mayo says the next milestone after that could be $2 trillion.
JPMorgan Chase's market capitalization is closing in on the $1 trillion threshold as the bank's share rally continues. Reaching that level would make it the first bank ever to hit the milestone, cementing its position as Wall Street's dominant lender.
Wells Fargo analyst Mike Mayo, one of the most closely watched voices covering US banks, said the $1 trillion mark should not be viewed as a ceiling. He argued the bank's scale, technology investment and diversified revenue base could carry it toward $2 trillion over time.
JPMorgan has benefited from strong trading and investment-banking results this year, along with resilient consumer lending. Investors are watching upcoming earnings updates for signs of whether the rally has further room to run.
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