One of the Stock Market’s Biggest Bulls Sees a Historic Rally Coming

U.S. stocks are likely set for a historic run over the next two years, with gains not seen on Wall Street since the dot-com era of the late 1990s. The compelling push to mark stocks higher has prompted a response from one of Wall Street’s longstanding bears, who now sees U.S. stocks rising to as high as 8000 points by the end of this year, and to 8300 points over the next 12 months, amid a hot domestic economy, public to private rebalancing, and broadening earnings performance beyond the megacap tech space. Morgan Stanley’s Mike Wilson, famously one of Wall Street’s most skeptical analysts during the bull market that developed after the launch of OpenAI’s ChatGPT in November 2022, sees stocks powering to record highs this year and next, with a 12-month price target for the that would suggest gains of around 130% on a five-year basis.