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JPMorgan Chase may still be positioned for more gains in 2025 despite its impressive year-to-date run, according to Eddie Ghabour of Key Advisors Wealth Management. The firm’s co-founder and CEO joined CNBC’s ” Power Lunch ” on Monday to offer his take on the stock, as well as a pair of other market movers. Here is what Ghabour said during the “Three-Stock Lunch” segment. JPMorgan Chase Shares of JPMorgan Chase have already rallied 22% this year, with the big bank’s trading desk benefiting from an especially volatile market lately. On Monday, CNBC reported that JPMorgan was overhauling the leadership of its internal quantum computing research group and had poached an executive from State Street. Despite this impressive year-to-date runup, Ghabour believes that there’s further upside ahead, and remains a buyer of the stock at this time. “We think the environment over the next 12 months is going to be a perfect storm for a bull market in financials, and JPMorgan has one of the best CEOs on the planet. And we think the market still has 20% more upside, which means their wealth management side — the revenue is also going to increase,” he said. “So deregulation, tax cuts and the economy reaccelerating and booming over the next 12 months is going to bode real well for this name.” Materials Select Sector SPDR Fund Ghabour also voiced his support for the broader materials sector, specifically in the form of the Materials Select Sector SPDR Fund (XLB) . Shares of the exchange-traded fund have popped 8% in 2025. As a catalyst for the sector, Ghabour pointed to an expected increase in defense spending that could drive upside in the stocks over the next 12 months. Members of NATO recently pledged to spend 5% of gross domestic product on defense, up from 2% previously. “So that’s going to do really well for this sector,” he said. General Motors On the other hand, Ghabour was not a fan of General Motors . The automaker will report its second-quarter earnings before the opening bell on Tuesday. Shares of General Motors were trading slightly higher on Monday after Benchmark Equity Research initiated coverage of the stock at a buy rating. Analyst Mickey Legg said that the automaker offered “underappreciated upside” and had a “notably more disciplined” electric vehicle strategy than its peers. But Ghabour disagreed with this take. He said he expects GM will struggle in the EV space, particularly in the Chinese market. “There are more and more people getting into the marketplace at lower price points, so we think they’re going to continue to be challenged,” he said. “The other problem is we’re worried about the consumer maybe frontloading car sales in the first quarter to get ahead of tariffs, so that could hurt their sales here in the second quarter.” Shares of General Motors are trading fractionally higher on a year-to-date basis.
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