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JPMorgan is betting that tech will have another big year ahead, noting that the AI theme will continue to be a key catalyst.
On the list is Alphabet, which the firm says could rally to $385, thanks in part to the company’s successful launch of its Gemini 3 AI model. The firm is also bullish on the company’s Google AI Overviews, which could help drive the company’s search and advertising business.
JPMorgan is also bullish on Amazon, with an overweight rating and a $305 price target. The firm says AMZN is still trading at an attractive valuation.
DoorDash is also on the list.
With an overweight rating and a $300 price target, JPMorgan expects “DoorDash’s gross order value, or GOV, in the U.S. to grow at an 18% compound annual growth rate between 2025 and 2028, driven, partly, by higher monthly active users on the platform.”
After another volatile, rollercoaster week, the major indices are attempting to push higher in a week full of economic releases. That includes November nonfarm payrolls out on Tuesday, along with October retail sales. We’ll see the November CPI numbers on Thursday.
While we wait on that data, the S&P 500 is up another 31 points to 6,922.
The SPDR S&P 500 ETF (SPY) is up about $3.30. The Dow Jones is up another 235 points, as the tech-heavy Nasdaq rallies 124 points.
While we’re likely to end the year on a high note, analysts say 2026 could be even stronger. In fact, as we noted on Friday, “analysts at Goldman Sachs say 2026 could be stronger.
In fact, the firm just set a target of 7,600 for the S&P 500, believing that artificial intelligence will be a key catalyst. “The process of AI adoption remains early, but large companies report more progress so far than smaller firms,” they said, adding that they expect S&P 500 earnings per share to rise 12% in 2026, to $305, as noted by CNBC.” In addition, should the Federal Reserve continue to cut interest rates, as it continues to focus on employment rather than inflation, markets could easily explode even higher.
Copper Prices Could Soar to Higher Highs
Copper, which has already exploded higher on the year, could see higher highs with surging demand showing no signs of cooling. Analysts at Citi see the metal running on stronger demand for energy and artificial intelligence.
The firm now sees copper hitting $13,000 per ton early next year, and $15,000 by the second quarter, adding that, “We expect the U.S. to hoard global copper inventory and, in a bull case, draw further on depleted ex-U.S. stock,” as quoted by CNBC.
With copper, investors can always jump into copper stocks, or they can jump into exchange-traded funds (ETFs) that offer greater exposure to multiple copper stocks at a lower price.
Look at the Global X Copper Miners ETF (COPX), for example.
With an expense ratio of 0.65%, the ETF allows you to diversify with 40 copper-related holdings, including Lundin Mining, Glencore, Southern Copper, BHP Group, Freeport-McMoRan, Ero Copper, and Taseko Mines, to name a few.
President Trump Could Sign an Executive Order to Reclassify Marijuana Today
On Friday, we noted that President Trump could reclassify cannabis.
All of which could send stocks such as Tilray (NASDAQ: TLRY), Canopy Growth (NASDAQ: CGC), and Innovative Industrial Properties (NYSE: IIPR) to higher highs.
Reportedly, that could happen today, with President Trump expected to sign an executive order that will reclassify cannabis. That’s according to a person familiar with the matter, but isn’t authorized to speak about White House plans, according to CNBC.
If it happens, markets expect to see a proposed rule for reclassification by summer. Following that, we could see progress to legalize cannabis under federal law, which could ignite quite a rally for related stocks.