Apple Stock Reaches New All-Time High Following Verdict, Up 1.70% To $674.48 After Hours
Apple stock reached a new all-time high as it rose 1.79% to $675.11 in after-hours trading at the time of publication. The stock opened Friday morning at $659.51.
A few hours after the market closed on Friday afternoon, a jury in San Jose federal court ruled in favor of Apple in a landmark patent case. Samsung must pay Apple $1,051,855,000 (although that exact figure is being disputed) in damages.
While it was not a sweeping win for Apple, as the company was requesting $2.525 billion in damages and did not win all of its infringement claims, it did significantly better than Samsung, which was awarded $0 in damages. Both companies are expected to appeal the decision of the complex case.