Bank of America raises Apple Stock price target after Google ruling

Bank of America has raised its price target on Apple stock to $260, up from its earlier $250 estimate. The revision came after a favorable ruling in Google’s high-profile antitrust case, which helped lift both Apple and Alphabet shares.



The ruling removed the threat of a forced breakup of Google’s core assets, including its Chrome browser, and preserved its ability to maintain lucrative search deals with partners such as Apple. That outcome gave analysts renewed confidence in Apple’s services revenue, a key driver of its long-term growth.



Apple’s next cycle



Last week, Bank of America analyst Wamsi Mohan had reiterated a “Buy” rating on Apple with a $250 price target. In his note, Mohan said he did not expect the upcoming iPhone 17 lineup to deliver a major sales surge, though he pointed to a new slim iPhone 17 Air model as the highlight of this year’s release cycle. He argued that while design changes often drive upgrades, investors are less optimistic this time about the boost from a thinner device.



Now, following the Google ruling, Mohan and his team lifted the target to $260, citing stronger visibility for Apple’s services income. The decision came as Apple stock jumped 3.4% after the court’s judgment and extended gains to 3.8% the next day. Shares have now climbed 15% in the past month, buoyed by recent quarterly results and improving sentiment on its ties with the U.S. government.



The Google factor



According to CNBC, the U.S. District Court ruling allowed Google to avoid the most severe penalties proposed by the Justice Department, including divesting Chrome. Instead, Google is barred from entering exclusive contracts but can continue paying distributors like Apple for default search placement on iPhones. Analysts said the judgment keeps Google’s distribution strong and indirectly secures Apple’s revenue stream from those agreements.



In the same note, Bank of America also boosted its target for Alphabet shares to $252, up from $217, highlighting its stronger search monetization and progress in artificial intelligence. Shares of Alphabet rose 9% in Wednesday’s session, while Apple stock ended 3% higher.



With its price target raised, Apple is now within reach of surpassing its record high of $260.10 per share set in late 2024. Whether the iPhone 17 launch fuels that push or not, the market is betting that Apple’s services pipeline and steady demand will carry the stock higher.