Barclays raised its year-end S&P 500 target to 7,950 points from 7,800, following an exceptional earnings season led by the technology sector. The bank also increased its earnings-per-share estimates for 2026 and 2027, now projecting $365 and $414 respectively. Big tech companies’ results surged 35% year-over-year in the second quarter, while the rest of the sector posted an 88% increase. Barclays anticipates hyperscaler capital spending will exceed $1.1 trillion in 2027, up 67% from the previous year.
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