Apple antitrust suit poses more headline than financial risk, says Evercore ISI

After the DOJ yesterday filed its “long telegraphed” antitrust lawsuit against Apple, Evercore ISI said it starts what “will doubtless be a long process that will produce negative headlines.” However, the firm continues to view the antitrust suit as “more of a headline risk than a financial risk” in the U.S. and thinks Apple “will prevail in the end.” The firm, which adds that it is unlikely Apple will be forced to meaningfully change its App Store fee or third party app store policies unless new legislation is passed, maintains an Outperform rating and $220 price target on Apple shares.