Barclays raises S&P 500 year-end target, citing 'standout' earnings driven by AI

* Barclays raised S&P 500 YE26 target to 7,950 from 7,800. * Tech earnings drove the upgrade; 2026/27 EPS estimates lifted. * Hyperscaler capex forecast to exceed $1.1T in 2027. Barclays lifted its year-end 2026 S&P 500 target to 7,950 from 7,800 after a strong tech-led earnings season. The firm also raised 2026/27 EPS estimates to $365/$414. Tech earnings grew 35% YoY for Big Tech and 88% for the broader sector. Hyperscaler capex is projected to top $1.1 trillion in 2027, up 67%, with growth slowing to 30% in 2028. Earnings resilience is expected to offset macro headwinds.