Apple Recap: The Bulls Return, More Patent Drama, TV Battle Rages
It was a surprisingly positive end to 2012 for Apple (NASDAQ:AAPL), with shares closing 4.43 percent up on Monday at $532.17. The iPhone maker, of course, has been in doldrums lately, dipping more than 24 percent since reaching a closing high of $702.10 in mid-September and losing several loyal bulls. The turnaround, then, was a welcome change. Here’s a cheat sheet to the top stories from Monday that potentially affected Apple’s stock movement:
Bear Days Are Over?
A Barron’s column over the weekend made a bull case for Apple, insisting that the company’s shares will “eventually rebound as it refocuses on what it does best, making great products that generate huge amounts of money.” The column added that a lot of the fast money that was invested in the stock had been chased away amid the recent decline, leading to a drop in the stock’s valuation as well as earnings estimates. That meant there was little chance of Apple disappointing when it reports earnings next month because the consensus estimate is as close to the company’s guidance as Street estimates have ever been… (Read more)
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Patent Battle Hardens
Apple must have been thrilled to know that the U.S. International Trade Commission is upping the ante for Samsung (SSNLF.PK) in their patent infringement case. Not only did the ruling judge recommend a sales ban on potentially infringing products, the Korean company has also been asked to post a bond worth 88 percent of its U.S. mobile phone sales. ITC Judge Thomas Pender had handed down a preliminary ruling in October that found Samsung infringed on four design patents owned by Apple, but the judgment is yet to be reviewed by a six-member review committee… (Read more)
Taking Over the TV
Apple’s rumored entry into the television world may be highly awaited, but Samsung is clearly not ready to give up its domination of the market yet. The Korean company, in fact, looks to be preparing to upstage its rival’s rumored attempts to enter the sector with a bang. In an announcement ahead of the upcoming Consumer Electronics Show, Samsung has said it was ready to showcase “true innovation of TV design” and an “unprecedented new TV shape and timeless design” at the event. The rivalry looks to be moving on from smartphones… (Read more)
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