AAPL Apple and the DOJ Antitrust LawsuitAfter the previous price target was reached:
Warren Buffett has been a prominent supporter of Apple (NASDAQ: AAPL) in recent years. However, there is speculation that his enthusiasm for the stock may have diminished. In the fourth quarter of 2023, Berkshire Hathaway reduced its holdings in the tech giant.
This move occurred before the U.S. Department of Justice (DOJ) announced that it, along with 16 state and district attorneys general, was suing Apple for alleged violations of antitrust laws. The question now arises: Will Buffett continue to sell off Apple stock in response to the DOJ antitrust lawsuit — and should others consider following suit?
The complaint filed by the department in the U.S. District Court for the District of New Jersey outlined various allegations against Apple, including that the company:
- Prevented the availability of iPhone apps designed to facilitate easier transitions to alternative smartphone platforms for consumers.
- Hindered the advancement of mobile cloud streaming services enabling consumers to play video games without necessitating expensive smartphone hardware purchases.
- Excluded messaging apps on iPhones that seamlessly operate across different smartphone platforms.
- Restricted the capabilities of competitors' products in comparison to the Apple Watch.
- Constrained competing digital wallets by prohibiting apps from enabling users to utilize tap-to-pay functionality.
My price Target for AAPL is now $165.
