Is Apple WINNING?
Last week, Apple (NASDAQ:AAPL) became the most valuable company by market capitalization in history. The tech giant’s stock price pierced through $665 a share and lifted the company’s value above $623 billion. Since then, the billions continue to roll in like clock work for the iGadget maker.
A long-running patent case between Apple and Samsung finally had its first moment of clarity over the weekend. Nine jurors delivered a huge win for Apple, awarding the company $1.05 billion in damages due to Samsung copying critical and patented features of the iPhone and iPad. Furthermore, the jury found that Apple did not violate any of Samsung’s patents. Apple sought $2.5 billion to $2.75 billion in damages, but the judge could still decide to triple the amount decided by the jurors.
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In a statement shortly after the verdict, Apple announced, “We are grateful to the jury for their service and for investing the time to listen to our story and we were thrilled to be able to finally tell it. The mountain of evidence presented during the trial showed that Samsung’s copying went far deeper than even we knew…we applaud the court for finding Samsung’s behavior willful and for sending a loud and clear message that stealing isn’t right,” according to Reuters.
On Monday, shares of Apple jumped 2 percent to reach another all-time high and improved its market cap value to $635 billion. In other words, Apple added the value of three Research in Motions (NASDAQ:RIMM) to its market cap in only a week. As the chart above shows, Apple has been a on tear all year, surging more than 60 percent. Other tech leaders such as Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT) have gained about 40 percent and 20 percent, respectively. Google (NASDAQ:GOOG), the king of search engines, is only slightly higher on the year.
While the Apple and Samsung drama is likely far from being over, the ruling is seen as a long-term catalyst to help Apple build its global smartphone presence, an area where Samsung is the current leader. AllThingsD reports, “Apple is currently seeking an injunction on at least eight of the products that the jury found to infringe on one or another of Apple’s intellectual property holdings. The phones include several flavors of the popular Galaxy S II, as well as the Verizon (NYSE:VZ) Droid Charge. Apple also wants a ban on products similar to those in question, a request that could strike even deeper, should the judge extend the injunction to any newer models.”
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