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![CorleoneDon77 Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1577382889104318472.png) DonCorleone77 [@CorleoneDon77](/creator/twitter/CorleoneDon77) on x 5388 followers
Created: 2025-07-21 21:02:44 UTC

$AAPL

Attached is page X of a 16-page Morgan Stanley analyst report on AAPL issued today entitled:

"A Reminder – What's at Stake for Apple in USA v. GOOGL?"

Morgan Stanley has a 'Overweight' rating on AAPL with a $XXX price target.

Morgan Stanley's summary statement regarding AAPL in the report includes the following:

"The DOJ will announce its USA vs. GOOGL remedies any day. While not a party in the suit, Apple's $20B+ search agreement is at risk. MSe base case is GOOGL search exclusivity is restricted, paving the way for broader search monetization (GOOGL+AIpowered), and just LSD% EPS downside, at worst.

DOJ v. GOOGL remedy ruling is coming "by August". The upcoming DOJ v. Google (covered by Brian Nowak) remedies ruling is a long-anticipated, and important, event for Apple – despite the fact that Apple is not a party in the lawsuit – given it will provide clarity on the future of the $20B+ payments that Apple collects annually from Google. 

We anticipate Judge Mehta could announce his remedy ruling any day now, and thus we want to remind our readers of the X potential scenarios we believe are most likely to come out of this trial.

-- Price Target Methodology:

Our $XXX PT is based a 7.9x EV/Sales FY26 multiple, which is derived from a regression of tech and consumer platform peers. Our price target implies 29.2x P/E on $XXXX CY26 EPS.

-- Rsks to Upside:

- Phone XX outperforms expectations
- Apple Intelligence adoption surprises to the upside
- Apple pulls forward form factor changes
- Services growth re-accelerates despite tougher compares
- Gross margins surprise positively

-- Risks to Downside:

- Weak consumer spending limits iPhone upgrade rates
- Limited progress on AI features
- Geopolitical tensions/tariffs
- Increased regulation, particularly with GOOGL
- TAC and App Store"

(Page X is not available here as X does not allow me to post pages from reports on this platform)


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947401883229823263/c:line.svg)

**Related Topics**
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[$aapl](/topic/$aapl)
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[morgan stanley](/topic/morgan-stanley)
[stocks financial services](/topic/stocks-financial-services)

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