Bank of America boosts Apple stock target on Google antitrust win

Just a few days ago, Bank of America reiterated its cautiously optimistic outlook on Apple’s stock market performance, with a $250 price target. Following yesterday’s ruling on the Google antitrust case, it has raised its projection.

$260 is the new $250

In last week’s investor note, Bank of America Research analyst Wamsi Mohani said that while he didn’t predict a stellar iPhone 17 performance out of the gate, he still backed Apple’s stock with a “Buy” rating and a price target of $250.

Specifically regarding the iPhone 17 lineup, he said:

“Some media reports and tech websites are highlighting Tues Sep 9th as a potential launch date for iPhone 17 (not official yet), with pre-orders starting Friday Sep 12th, and new iPhones reaching stores on Fri Sep 19th. We expect the main feature to be the launch of a slim iPhone (iPhone 17 Air) to replace the current Plus model. While prior form factor changes have driven a meaningfully higher next iPhone cycle, in our opinion, investor expectations for the benefit from a thin phone are more tempered.”

Today, the bank raised its price target to $260 (via CNBC), on the heels of a surprisingly favorable ruling in Google’s antitrust case, which could have, among other things, ordered it to divest Chrome and scrap its Search deals with Apple.

Immediately after the ruling, Apple’s stock jumped 3.4% and extended those gains to a 3.8% rise in today’s session. Google shares climbed even higher, up 7% in after-hours trading and closing today with a 9% gain.

With today’s move, Apple’s stock has gained 15% in the last month, thanks to its recent dealings with the U.S. government and favorable quarterly results.

If it continues this stride, Apple will not only hit Bank of America’s new price target, but also surpass its record-high of $260.10 per share from late 2024.

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