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Evercore Analyst Predicts Limited Impact from Epic Court Win on Apple Services
ByAinvest
Wednesday, Aug 13, 2025 9:31 am ET1min read
Evercore ISI analyst Amit Daryanani notes that an Australian federal court ruled in favor of Epic Games against Apple, finding anti-competitive conduct. Evercore thinks the ruling comes as no surprise and expects minimal impact on Apple's Services business from Australian-based in-app purchases. The firm maintains an Outperform rating and $250 price target on Apple shares.
An Australian federal court has ruled in favor of Epic Games against Apple and Google, finding anti-competitive conduct in the companies' app store practices. The ruling, which is part of a broader legal dispute, has significant implications for the tech giants' market dominance.The court's decision, summarized in a 2,000-page document, found that Apple and Google's app stores lacked protections against anti-competitive behavior. Epic Games had argued that the tech giants charged excessive fees for app downloads and made it difficult for users to access alternative app stores. The court agreed with Epic's claims regarding market dominance, but dismissed some of the company's allegations [1].
The ruling may pave the way for Fortnite to return to Apple's iOS platform in Australia, allowing Epic Games to offer its services directly to consumers without the tech giants' fees. However, Apple and Google have expressed disagreement with the court's findings and are expected to review the full decision and consider appealing the ruling [2].
Evercore ISI analyst Amit Daryanani noted that the ruling comes as no surprise and expects minimal impact on Apple's Services business from Australian-based in-app purchases. The firm maintains an Outperform rating and a $250 price target on Apple shares [3].
The ruling underscores the ongoing debate over the dominance of app stores and the need for competition in the digital market. As the case continues to unfold, investors and financial professionals will closely monitor the developments and their potential impact on the tech industry.
References:
[1] https://www.reuters.com/legal/litigation/australia-court-rules-partly-against-apple-google-epic-games-lawsuit-2025-08-12/
[2] https://economictimes.indiatimes.com/tech/technology/epic-games-wins-partial-victory-in-australian-court-against-google-and-apple/articleshow/123269814.cms
[3] https://www.theglobeandmail.com/investing/markets/stocks/AAPL/pressreleases/34051797/apple-navigating-tariffs-while-services-drive-growth/
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