Apple’s (AAPL) Price Target Rises to $260 at BofA

Bank of America has increased its price target for Apple (AAPL) stock from $250 to $260, while maintaining a Buy rating. The decision follows a favorable outcome in the U.S. Department of Justice’s antitrust case against Google, which allows Google to continue paying Apple for default search placement on iPhones.

Analyst Wamsi Mohan cited stronger confidence in Apple’s Services segment, applying a higher valuation multiple to future earnings. The market responded positively, with Apple shares rising approximately 3% in premarket trading.