Apple Stock Hits Record High after Court Ruling

Apple’s stock hit an all time high Monday approaching $700 per share after the maker of iPhones and iPads won a patent lawsuit against Samsung Electronics, NBC News reported. Last Friday the jury found that Samsung infringed on Apple’s mobile-device patents and it awarded Apple more than $1.05 billion in damages. Samsung of South Korea said it would appeal the verdict, according to Reuters. Apple’s share price was lately up by 2.1 percent at $677 after rising to an all-time high of $680.87 earlier in the day. So far this year, Apple’s share price has increased 68 percent. According to analysts the ruling could give Apple leverage in the smart phone market ahead of the expected launch of its new iPhone model this fall. Following the ruling, Apple submitted a list of eight Samsung products it wants pulled from shelves and banned from the U.S. market.The products include Galaxy S 4G, Droid Charge and Galaxy Prevail. A judge will rule on this issue later.

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