Apple Stock Rides High on Samsung Verdict

Apple stock reaches all-time highApple stocks hit an all-time high on Monday following the giant $1 billion win over Samsung as the stock price reached $675.13 in early trade. This was a jump of 1.8 percent.

On the contrary, Samsung stock price fell 7% in trade in South Korea. With this, market capital of the technology maker reached $633 billion.

Analysts believe that after the court verdict that went in favor of Apple, Samsung could be faced with further ban to some of its other devices. “We believe this verdict strengthens Apple’s already strong competitive position in the smartphone and tablet markets ahead of upcoming key product launches such as the iPhone 5,” Michael Walkley of Canaccord Genuity has said.

Mahak Sharma

Sharma is the Lead-Instructional Designer at Pen Pundit. She takes care of all academic projects acquired and undertaken by the company. In her free time, she will be found fighting for animal rights.