Barclays: Apple (AAPL.US) may suffer from "collateral damage" in the US Department of Justice's antitrust case against Google (GOOGL.US)
Wednesday, Nov 27, 2024 2:00 am ET
1min read Barclays said that if the US Department of Justice's antitrust lawsuit against Google (GOOGL.US) proceeds as it is, Apple (AAPL.US) could ultimately be hit by "collateral damage." The bank's analyst Tim Long said: "While Apple is not directly embroiled in the legal dispute between Google and the US Department of Justice, the outcome could have significant implications for its business model." The analyst noted that the revenue from Google's payments to Apple for traffic acquisition costs could be affected, which is a big issue for Apple as it is believed to account for around 15 per cent of its operating profit. The analyst rates Apple "underweight" with a target price of $184.
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