Apple: Playing The News

Published on: Aug 27 2012 by John Critchley

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The steamroller continues. Apple (AAPL) trades north of $677 a share, a gain of +$13.75 or nearly 2.1%. The tech giant is making new highs today as it receives a favorable ruling in a patent battle with Samsung (SSNLF.PK). Investors are reacting to the ruling by a jury this past Friday that Samsung Electronics infringed on six patents held by Apple with Samsung’s smartphones and tablet computers. The ruling states that Samsung must pay Apple at least $1 billion in damages, with the possibility of more penalties and an injunctive restriction against the sale of some Samsung devices. (Source here)

Also adding fuel to this blazing fire is the widely expected introduction of the much anticipated iPhone 5 on September 12, 2012. It is not uncommon for Apple to trade higher into a major product launch, but the run-up in Apple leading up to this announcement has been impressive. The speculation, since debunked by leading bloggers, that the mini iPad will also be announced on the same day has certainly added to the upside trajectory. (Source Here)

Share this:
Share this page via Email Share this page via Stumble Upon Share this page via Digg this Share this page via Facebook Share this page via Twitter

Sorry, the comment form is closed at this time.

Sorry, the comment form is closed at this time.