[JPMorgan Raises S&P 500 Year-End Target to 8,000 Points] According to Trend Research, JPMorgan's U.S. equity strategy report on August 9 raised the S&P 500 year-end target to 8,000 points, with the 2026 EPS forecast revised up to $365 and the 2027 EPS forecast to $420. The report highlights that AI capital expenditures are expected to exceed $1.2 trillion by 2027, with cloud revenue accelerating realization. AWS backlog orders have increased to $496 billion, while Google's backlog orders have risen to $514 billion. Excluding the combined $152 billion in unrealized private equity gains from Google and Amazon, the actual earnings growth rate for Q2 is approximately 31%, and the normalized EPS for 2026 is around $347.