US Stocks Move | Apple (AAPL.US) rises over 3% as it achieves a "major victory" in search monopoly ruling
According to Jinse Finance APP, on Wednesday, Apple (AAPL.US) rose more than 3%, closing at $237.17. U.S. District Judge Amit P. Mehta has recently ruled to prohibit Google from signing exclusive search agreements, rejecting the Department of Justice's request for harsh measures such as forcing the divestiture of the Chrome browser. The judge made it clear that Google can continue to pay for the distribution of its products, and that these agreements must not harm the interests of partners such as Apple. Wall Street analysts view this as a major victory for both companies, as it protects the core business model of the $20 billion annual partnership between Google and Apple. The ruling also paves the way for further cooperation between the two companies in AI-related services.
Wedbush stated that the U.S. federal judge's ruling in the search agreement antitrust case is a "major victory" for Google (GOOGL.US) and Apple (AAPL.US). Wedbush maintained its "outperform" rating on Apple and set its target price at $270. Wedbush also maintained its "outperform" rating on Google, but raised its target price from $225 to $245.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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