Tom Lee adds Arista Networks and JPMorgan to 2026 “core list,” discussion aired on CNBC

Fundstrat strategist Tom Lee on Thursday reiterated two additions to his “core list” of stock ideas for 2026, naming Arista Networks and JPMorgan Chase as companies he believes merit attention. The recommendation surfaced during a CNBC Investment Committee discussion, where panelists weighed in on Lee’s stock picks.

According to the Yahoo Finance report that carried the CNBC segment, Lee’s comments centered on the idea of building a concentrated list of companies that, in his view, could benefit as the market moves through 2025 into 2026. In the discussion, Lee recommended Arista Networks, a maker of data-center switching and routing equipment used by cloud and enterprise customers, and JPMorgan Chase, a major U.S. bank with revenues tied to lending, investment banking, and trading activity.

The segment also reflected how other members of the panel viewed those same companies. The Yahoo Finance write-up states that two panelists who own the stocks discussed them on-air, but it does not spell out any specific valuation targets, earnings forecasts, or changes to consensus estimates tied to Lee’s call.

JPMorgan Chase, in broad terms, is often treated by investors as a bellwether for U.S. financial conditions. Large money-center banks typically absorb swings in credit quality and the level of corporate activity that feeds fees and capital markets revenue. In that context, a strategy firm’s “core list” inclusion can be read as a vote for staying power, even when short-term conditions are uncertain.

Arista Networks is more directly tied to the buildout of cloud infrastructure. Its networking hardware and software are used to move traffic within and between data-center environments, where demand can rise with cloud migrations and higher bandwidth needs. For investors, that relationship can make Arista’s stock sensitive to data-center capex cycles and customer buying patterns, even if overall market sentiment is volatile.

Still, the disclosed information from the report is limited in scope. The Yahoo Finance item does not provide the full rationale behind Lee’s 2026 list, it does not include detailed performance expectations, and it does not specify whether any other names were added or removed alongside Arista and JPMorgan.

It also does not clarify whether Lee’s “core list” is tied to a particular weighting framework, holding period, or model portfolio approach. Without those details, the most defensible takeaway is that Arista Networks and JPMorgan Chase were explicitly discussed as stock ideas for 2026 on a widely watched market segment.

Looking ahead, investors may watch for follow-up commentary from Lee or Fundstrat, and for how the market responds to any subsequent disclosures from the companies themselves, including updates on network equipment demand for Arista and credit and capital markets trends for JPMorgan. The on-air inclusion may offer a timing announcement for how strategists are framing the next cycle, even if it does not substitute for company-by-company fundamentals.