TECH - As Apple Battles DOJ Antitrust Claims Analysts Compare It With Microsoft's Past Seeing AI Opportunities | Benzinga
Wedbush analyst Daniel Ives maintained an Outperform rating on Apple Inc (NASDAQ:AAPL) with a price target of $250.
The Department of Justice brought forth its long-anticipated case against Apple for violating antitrust laws, which has been brewing for years on the back burner since 2019.
Effectively, a kitchen sink case built up against Apple, although he noted this case would last for years, and ultimately, a settlement in some form likely over the next 12 to 18 months.
This case escalates the Biden Administration’s antitrust efforts against Big Tech giants and adds to the ongoing antitrust case against Google and other cases against Meta and Amazon.
The analyst does not expect any business model changes for Apple now as this case will likely take years in the courts to prosecute and lead to a conclusion.
Still, Apple has to find a way to eventually settle this case, pay a hefty fine, and ultimately find some compromise with developers on the App Store structure down the road.
Ives projected second-quarter revenue and EPS of $90.3 billion and $1.54.
Morgan Stanley analyst Erik W Woodring reiterated an Overweight rating with a price target of $220.
The analyst noted a positively skewed risk-reward at these levels and believes upcoming ...