**Bank of America Ups Apple Stock Price Target to $260 Following Favorable Antitrust Judgment**
Recently, Bank of America confirmed its cautiously positive view on Apple’s stock performance, increasing its price target from $250 to $260. This change follows a favorable judgment in the Google antitrust matter, which has positively affected investor sentiment.
### $260 Replaces $250
In a recent note targeted at investors, Bank of America Research analyst Wamsi Mohani affirmed his endorsement of Apple’s stock with a “Buy” rating, even though he doesn’t foresee exceptional performance for the upcoming iPhone 17. Mohani pointed out that while the iPhone 17 series is projected to introduce a new slim variant, referred to as the iPhone 17 Air, investor expectations about the effects of this design shift are more subdued compared to earlier releases.
Mohani suggested the potential launch date for the iPhone 17 as September 9, with pre-orders beginning on September 12 and retail launch on September 19. He stressed that even though earlier form factor modifications have led to significant sales boosts, the current market sentiment is more reserved.
### Consequences of the Antitrust Judgment
The recent judgment regarding the Google antitrust case has played a crucial role in the stock market’s response. The ruling could facilitate considerable changes in Google’s operational practices, including possible divestitures and modifications to its contracts with Apple. In the wake of the verdict, Apple’s stock saw a significant surge, rising 3.4% immediately and extending to a 3.8% increase in the following trading days.
Conversely, Google shares also experienced a noteworthy rise, increasing 7% in after-hours trading and closing with a 9% gain. This favorable momentum has helped Apple’s stock climb 15% over the last month, strengthened by positive quarterly results and recent interactions with the U.S. government.
### Future Outlook
Should Apple continue on its current path, it is not only set to achieve Bank of America’s revised price target of $260 but may also exceed its prior peak of $260.10 per share, reached in late 2024. The combination of a supportive market environment and the expected introduction of new products could further boost investor confidence in Apple’s stock performance.
### Summary
Bank of America’s updated price target signifies an increasing optimism about Apple’s future, especially considering recent legal outcomes and product launches. Investors will closely monitor the upcoming iPhone 17 launch and its market reception, as well as the ongoing effects of the Google antitrust ruling.
