Apple Recap: Financial Secrets, an Acquisition, and Icahn’s Plans
Shares of Apple (NASDAQ:AAPL) managed close out the week above the 500-dollar level, but over the course of five-day trading period, the stock did drop 0.26 percent, or $1.31. While that is not much of a dip, the stock did reach above $10 per share on Monday, making the weekly loss slightly more obvious. Shares also ended Friday in negative territory, closing down $1.94, or 0.39 percent, at $501.02. Here’s a cheat sheet to today’s top Apple stories:
Court Lets Apple and Samsung Keep Their Financial Secrets
Apple and Samsung (SSNLF.PK) will not be forced to publicly reveal sensitive financial information that pertains to their ongoing patent-infringement litigation, reports Reuters. The Federal U.S. Circuit Court of Appeals’ ruling reverses a previous lower court decision that would have revealed redacted financial details about both companies.
The financial documents in question contain sales and profit information that both companies wanted to keep confidential. The documents were submitted to the court as part of the 2012 Apple v. Samsung case in the Northern District of California… (Read more.)