Apple Inc (AAPL) Stock Finishes Up 3.8% in Greener Trading Week
On Tuesday, Apple (NASDAQ:AAPL) has threatened to sue the Chinese company which asserts that it still owns the rights to the iPad trademark in China, according to CNN. In a letter to the CEO of the Chinese company, Apple said it had purchased the trademark in China, and the American company added that it could take legal action to obtain compensation for any damages that result from the trademark battle, CNN reported.
Apple (NASDAQ:AAPL) increased its share of the U.K. smartphone market from 21.7% a year ago to 29.1%, reported AppleInsider, citing research from Kantar Worldpanel.
Apple is planning to build a 20MW solar project at its massive data center in North Carolina, GigaOM reports. The company will reportedly build a massive fuel cell farm at the data center, and fuel cells are likely to come from either FuelCell Energy (NASDAQ:FCEL) or Bloom Energy. Possible solar suppliers may include First Solar (NASDAQ:FSLR) or SunPower (SPWR).
On Wednesday, Apple (NASDAQ:AAPL) starts its iCloud music service in Japan, reports Nikkei. The “iTunes in the Cloud” service allows people to listen to music purchased on line through various devices over the Internet.
Credit Suisse raised Apple’s price target based on its cash position and to reflect a rolling of EPS forward to 2013. Shares are Outperform rated.
Apple (NASDAQ:AAPL) confirmed it plans to build a “green” data center in Prineville, Oregon, reported AppleInsider, citing KTVZ.com.
In a Chinese a local court hearing, Apple (NASDAQ:AAPL) defended its right to use the iPad trademark in China, with the tech giant’s lawyers arguing Proview, which brought the case, “has no product, no markets, no customers and no suppliers” which would give it rights to the trademark, according to Reuters.
Apple’s (NASDAQ:AAPL) share of the global tablet market will drop to 62% this year from 66% in 2011, research firm TrendForce said yesterday, according to Cnet. However, iPad shipments will still rise to 59M units this year, versus 40M units in 2011, the research firm added.
On Thursday, the AFL-CIO- America’s largest labor organization – is calling on Apple (NASDAQ:AAPL) to improve the working conditions for those who assemble the company’s products, according to The Hill. AFL-CIO President Richard Trumka accused the technology company of trying to brush problems with the factories where its products are assembled under the rug, and failing to “genuinely address” the issue, the publication added.
A Shanghai court will not impose a preliminary injunction on Apple’s (NASDAQ:AAPL) ability to sell iPads in Shanghai, a source tells Reuters, confirming a report by the website of local official newspaper Xinmin Evening News. Proview has claimed that Apple is infringing on a trademark it owns in China.
Friday, Apple (NASDAQ:AAPL) has acquired Chomp, an app search and discovery platform, TechCrunch has learned. Apple, which has bought the Chomp team and technology, is planning to use both to completely revamp App Store search and recommendations. Terms of the deal have not been disclosed, but “investors should be very pleased with the outcome.”
Apple (NASDAQ:AAPL) shareholders backed the company’s directors and CEO Tim Cook, but remain impatience with their inactivity on its cash and pointed to the treatment of its factory workers in China, reports the Wall Street Journal.
JPMorgan believes shares of Apple have substantial upside potential from current levels given the low penetration rates of its products and the growth of social networking enablement. The firm reiterates an Overweight rating on the stock with a $625 price target.
A new patent application from Apple (NASDAQ:AAPL) points to the company’s intention to make its keyboards, and in turn its notebook computers, even thinner and lighter, according to AppleInsider.
Shares of Apple Inc (NASDAQ:AAPL) closed the week at $522.41 per share.
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