EL7.AI
Stocks•29 June 2026•
1 min read

Apple Faces Cybersecurity Probe Amid Wall Street Support for AI Strategy

Key Facts

1Bank of America reiterated its 'Buy' rating and $380 price target for Apple.
2Apple is facing a cybersecurity probe after a ransomware group claimed to have published files linked to the company, though the data is reportedly from 2021.

In a move reflecting Wall Street's confidence in Apple's future, Bank of America reiterated its 'Buy' rating on the stock with a $380 price target, according to financial reports. Meanwhile, Apple faces a cybersecurity probe after a ransomware group claimed to have published files linked to the company, though the data reportedly dates back to 2021, easing immediate concerns.

This development comes as Apple shares trade at $283.78 (close June 26), lower than its tech peers; Alphabet (GOOGL) closed at $337.39 and Microsoft (MSFT) at $372.97. Analysts believe Apple's AI strategy, particularly its new context-aware Siri, remains undervalued, providing support for the stock despite security concerns.

In the near term, investors are watching the outcome of the security investigation and its potential impact on Apple's reputation, along with any signs of progress on its AI strategy. Technically, the stock trades at $285.78 (June 29), near its daily low of $284.42, with resistance at $288.3, indicating a tight range awaiting a new catalyst.