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Apple shares soar yet higher

APPLE shares soared to a new all-time high 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 2.11 per cent to $US677.19, giving the maker of the iconic iPhone and iPad a record market value of $US635 billion (508 billion euros), reinforcing its place as the world's most valuable corporation.

Analysts said Friday's court verdict ordering Samsung to pay more than $US1 billion for patent infringement, which also opens the door to a ban on some Samsung devices, bodes well for Silicon Valley firm.
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"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," said Michael Walkley at Canaccord Genuity.

Read more at Brisbanetimes.com.au

Topics:  apple samsung stock market


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