JPMorgan Reiterates S&P 500 Blue-Sky Target of 8,000 from 7,109 Amid AI Rebound

JPMorgan has raised its 2026 year-end S&P 500 base target to 7,600 from 7,200, outlining a blue-sky scenario to 8,000 if geopolitical tensions ease and multiples re-expand to 23x. The index stands at 7,109.14 after a ~10% correction and rebound, with 66% of AI stocks outperforming since April 7, fueled by strong Q1 earnings and buybacks. Multiple reports today highlight upside from earnings momentum and AI developments like Anthropic’s Mythos, but warn of short-term consolidation risks from $90/barrel oil and Iran tensions, recommending barbell allocations to quality growth and low-volatility names.