S&P 500 to 8,000? Why JPMorgan is betting on earnings despite high valuations

S&P 500 to 8,000? Why JPMorgan is betting on earnings despite high valuations

JPMorgan raises S&P 500 to 8,000 on 32% earnings growth driven by AI capex finally converting to revenue at Alphabet, Amazon, Microsoft. For tech leadership, the risk is clear: valuations hinge on sustained AI spending from a few mega-caps; a pullback would sharply decelerate cloud growth.