Apple Inc.’s stock has had a rough go of it during the first half of the year. President Trump’s tariffs caused have weighed on the company, as investors continue to gauge what the full cost to its business will be.

Apple’s reported interest in acquiring Perplexity AI could boost its AI capabilities and offset risks tied to its Google search deal, says Bank of America.

In our opinion, any such deal … would likely be positive for shares that are currently in the penalty box given Apple is largely viewed as an AI laggard,” wrote the BofA an