Demmert Sees S&P 500 at 8,100 by End-2026 After Nvidia Earnings

Following Nvidia’s fiscal Q1 2027 earnings release after the May 20 close, strategist James Demmert now projects the S&P 500 will reach 8,100 by year-end 2026 and sees the Dow doubling by 2030. The forecast comes after the index traded at 7,408.50 on May 17 amid pre-earnings caution. Demmert cited robust AI-driven results that removed prior concerns about slowing demand, while highlighting Nvidia and Apple as favored Mag 7 holdings. The shift marks a clear progression from May 17 warnings of volatility to a constructive long-term outlook for large-cap tech and broad U.S. equities.