(or "De nieuwe targets" but Dutch often uses "doelen". We'll use "De nieuwe doelen".
Then: "JPMorgan's strategists cited strong earnings and growing evidence that massive AI investment is translating into customer demand. They expect $365 in 2026 earnings per share, a 35% jump, while holding the valuation multiple flat at 20 times earnings. That's a bet on profit growth doing the heavy lifting rather than multiple expansion."
Translation: "De strategen van JPMorgan wezen op sterke winsten en groeiend bewijs dat massale AI-investeringen zich vertalen in klantvraag. Ze verwachten $365 aan winst per aandeel in 2026, een stijging van 35%, terwijl ze de waarderingsmultiple gelijk houden op 20 keer de winst. Dat is een gok dat winstgroei het zware werk doet in plaats van multiple-expansie."
We need to keep "$365" - maybe "365 dollar" but in financial context, we can keep "$365". We'll keep as is.
Paragraph 3: "CFRA's Sam Stovall says strong earnings continue to support equities, but he's careful to flag that the rally may be nearing a peak. His 12-month target of 8,650 sits well above the Street's average near 7,854, so he's clearly not ready to call the top just yet."
Translation: "CFRA's Sam Stovall zegt dat sterke winsten de aandelen blijven ondersteunen, maar hij is voorzichtig om te waarschuwen dat de rally mogelijk een piek nadert. Zijn 12-maandsdoel van 8.650 ligt ruim boven het gemiddelde van de markt van ongeveer 7.854, dus hij is duidelijk nog niet klaar om de top te voorspellen."
Note: "the Street" is "de markt" or "Wall Street" - we can say "het gemiddelde van de markt" or "het gemiddelde van de straat" but better "het gemiddelde van de markt".
Paragraph 4:
Why the bulls are leaning in
->
Waarom de bulls zich laten gelden
or "Waarom de bulls erin geloven" - we'll use "Waarom de bulls zich laten gelden" or "Waarom de bulls instappen". Actually "leaning in" means they are becoming more confident. We'll say "Waarom de bulls er vol voor gaan" but let's keep it simple: "Waarom de bulls zich laten overtuigen" or "Waarom de bulls erin trappen"? Better: "Waarom de bulls sterker worden" - but let's use "Waarom de bulls zich laten gelden" - that means they are asserting themselves.
Then: "The earnings picture is hard to ignore. Google Cloud grew 82% year over year, Microsoft Azure was up 43%, and Amazon Web Services climbed 37%. JPMorgan expects AI to soak up more than half of the index's $1.5 trillion in capital spending this year. That's a lot of cash flowing into data centers and chips, and so far the revenue is following."
Translation: "Het winstbeeld is moeilijk te negeren. Google Cloud groeide met 82% op jaarbasis, Microsoft Azure steeg met 43% en Amazon Web Services klom met 37%. JPMorgan verwacht dat AI meer dan de helft van de $1,5 biljoen aan kapitaaluitgaven van de index dit jaar zal opslorpen. Dat is veel geld dat naar datacenters en chips stroomt, en tot nu toe volgt de omzet."
We need to convert numbers: 82% is fine, 43%, 37% fine. $1.5 trillion becomes $1,5 biljoen? Actually in Dutch, "trillion" is "biljoen" (since Dutch uses short scale? Actually in Dutch, "biljoen" is 10^12, which is trillion in English. So $1.5 trillion is $1,5 biljoen. But we have to be careful: the original says "$1.5 trillion" - we can write "$1,5 biljoen" but keep the dollar sign. Also, "year over year" is "op jaarbasis". "soak up" is "opslorpen" or "opnemen".
Paragraph 5: "Goldman Sachs sits at 8,000, Citi at 8,100, and Bank of America at 7,100. The spread between the most bullish and bearish calls is wide, which tells you the debate is far from settled."
Translation: "Goldman Sachs zit op 8.000, Citi op 8.100 en Bank of America op 7.100. De spreiding tussen de meest bullish en bearish oproepen is groot, wat aangeeft dat het debat verre van beslecht is."
We'll use "oproepen" or "voorspellingen" - "calls" here means targets, so we can say "doelen" but they are calls. We'll say "de meest optimistische en pessimistische voorspellingen
