JPMorgan raises KOSPI and S&P 500 targets on AI‑driven profit outlook

JPMorgan upgraded its outlook for South Korea's KOSPI, moving the base‑case target from 9,000 to 12,500 points and raising the optimistic scenario to 15,000 points while setting a downside target of 8,000. The bank said strong AI‑related demand for semiconductor leaders such as Samsung Electronics and SK Hynix underpins the upside potential.

In the United States, JPMorgan lifted its year‑end S&P 500 target to 7,800 points, forecasting an average 20% upward revision to corporate earnings over the next two years. The uplift is driven by expanding AI capital expenditures and reduced geopolitical risk after progress in U.S.–Iran negotiations. The firm cautioned that market volatility could rise from heavy concentration in AI‑focused stocks and potential tightening by the Federal Reserve.