Apple Recap: Lost Appeal, Pricey iPhones, Near-Term Targets
For most part of the day, it looked like Apple (NASDAQ:AAPL) would continue the trend from yesterday and close above its starting price. It was not to be, as the stock fell in the closing portion of the day to end 0.31 percent down and end at $456.83. Here are the top stories for the company from the day:
No Go In San Jose
The $1.05 billion jury verdict against Samsung (SSNLF.PK) in its famous California patent lawsuit against Apple has been upheld, with the ruling judge denying both a request for retrial and the iPhone maker’s appeal for higher damages. U.S. District Court Judge Lucy Koh ruled on Tuesday that the Korean company did not willfully infringe on Apple’s patents, thus denying the latter’s attempt to raise the damage amount decided upon last August by a federal jury. The jury’s verdict had established that Samsung acted willfully. An establishment of that fact would have raised the damages a massive three times. Koh did not set a final amount for damages.
The case first started in April 2011 after the iPhone maker filed suit in the San Jose federal court claiming infringement of four design patents and three utility patents by Samsung. The Korean company countersued with its own allegations. Apple later widened the dispute to a second lawsuit in the San Jose, California, court and one with the U.S. International Trade Commission… (Read more)