Barclays raised its year-end S&P 500 target to 7,950 from 7,800, representing roughly 4% upside from the index’s close at 7,636.36 points on September 9. The bank cited durable AI demand and repeated beat-and-raise results from Big Tech, with earnings growing 35% year-over-year in the second quarter. Venu Krishna, head of US equity strategy at Barclays, also lifted the firm’s 2026 earnings estimate to $365 per share and the 2027 forecast to $414. Hyperscaler capital spending is expected to surpass $1.1 trillion in 2027, a 67% increase from the prior year, with Google and Amazon expected to be the largest contributors.
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