27 Aug '12, 2pm

Apple shares hit all-time high after major US court victory over Samsung

Apple shares hit all-time high after major US court victory over Samsung

NEW YORK (AFP) - Apple shares soared to a new all-time high on Monday after the US tech giant's big win in a patent lawsuit against South Korea's Samsung, which saw its own stock tumble. Google shares slipped amid concerns that its Android operating system used on mobile devices made by Samsung and others would come under greater scrutiny. In early trade, Apple jumped 1.8 per cent to US$675.13, giving the maker of the iconic iPhone and iPad a record market value of US$633 billion (S$792 billion), reinforcing its place as the world's most valuable corporation. Analysts said Friday's court verdict ordering Samsung to pay more than US$1 billion for patent infringement, which also opens the door to a ban on some Samsung devices, bodes well for Silicon Valley firm. "We believe this verdict strengthens Apple's already strong competitive position in the smartphone and tablet mark...

Full article: http://www.straitstimes.com/breaking-news/money/story/app...

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