Wall Street thinks there’s a chance the S&P 500 could push 20% higher by 2027
Key takeaways
- Hot off the back of another record-breaking earnings call from Nvidia, JPMorgan Private Bank’s Kriti Gupta and Nick Roberts believe it’s “entirely plausible” for the S&P to hit 9,000 by mid-2027.
- "The path to 9,000 extends beyond the tech sector.
- Headwinds, of course, include a bond market sell-off and questions over the Strait of Hormuz.
Hot off the back of another record-breaking earnings call from Nvidia, JPMorgan Private Bank’s Kriti Gupta and Nick Roberts believe it’s “entirely plausible” for the S&P to hit 9,000 by mid-2027.
In a note shared with Fortune ahead of its release this morning, the duo wrote that bullish sentiment is grounded in the AI revolution, pointing out that there hasn’t been a streak of six consecutive quarters of double-digit earnings growth since the aftermath of the global financial crisis (GFC).
"The path to 9,000 extends beyond the tech sector. It relies on broader AI adoption across sectors that increases productivity and bolsters margins across the board," the pair wrote, adding that the focus of the AI story is now shifting from infrastructure to adoption.